Low and falling birthrates are not an economic threat. Not remotely. The latter is not a Malthusian or Paul Ehrlich-ian statement as much as it’s a statement about production. The babies being born today will grow up and individually produce at levels that would have literally required thousands, and realistically tens of thousands of humans from the past.
To understand why the birthrate alarmists have so profoundly misread the future, it has to be stressed that no one buys anything with money. Instead, individuals produce in order to get the production of others. Money is just the agreement about value that facilitates the exchange of actual wealth, and it can always be found where production is, and as though placed there by an "invisible hand." Production quite simply is money, and the money it commands grows as the worth of the production does. Production that rates money exchangeable for commentsurate production is what constitutes “demand.”
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