The interesting thing is that the US economy (in fact, even the economy worldwide) is probably gonna face a steep decline in demand of human labor in the next few decades.
The reasons include the limits to growth (i.e. the economy can’t grow anymore due to natural constraints, but growth is what causes the majority of demand for human labor) and automation and AI.
Having a higher number of people in the country when there’s a low demand for human labor (a.k.a. few jobs) means higher unemployment numbers, and that in turn is more expensive for the country, because the people still need resources so the country has to pay out unemployment money if it wants to avoid revolts. Now, companies face higher taxation, and everyone is worse off. If people make fewer children today and there’s less immigration, both companies and citizens will be better off in 20 years from now, because they face lower unemployment rates. This insight is relatively new (because until now, supply of human labor was the constraining factor for economic growth), but interesting.
The interesting thing is that the US economy (in fact, even the economy worldwide) is probably gonna face a steep decline in demand of human labor in the next few decades.
The reasons include the limits to growth (i.e. the economy can’t grow anymore due to natural constraints, but growth is what causes the majority of demand for human labor) and automation and AI.
Having a higher number of people in the country when there’s a low demand for human labor (a.k.a. few jobs) means higher unemployment numbers, and that in turn is more expensive for the country, because the people still need resources so the country has to pay out unemployment money if it wants to avoid revolts. Now, companies face higher taxation, and everyone is worse off. If people make fewer children today and there’s less immigration, both companies and citizens will be better off in 20 years from now, because they face lower unemployment rates. This insight is relatively new (because until now, supply of human labor was the constraining factor for economic growth), but interesting.