Japan ๐ฏ๐ต is already showing what happens when an ageing population meets a shrinking workforce.
There arenโt enough workers ๐ท, so the people left in the workforce carry more of the load ๐๏ธwhile labour shortages get worse. Japanโs working-age population has fallen for decades, and the OECD says the country is increasingly relying on foreign workers to help fill those gaps.
If prices rise ๐ faster than your pay ๐ฐ, the real value of your money falls ๐. Meanwhile, people who already own property and other assets can still see their wealth grow ๐ ๐.
Japan ๐ฏ๐ต shows what can happen when an ageing population meets a shrinking workforce. Fewer workers ๐ท means the people left can carry more of the load โฐ while worker shortages get worse.
Then if wages donโt keep up ๐ฐ while prices rise ๐, working and middle-class people lose buying power ๐.
Meanwhile, the wealthiest people already own far more property, shares and other assets ๐ ๐, so rising asset values can make them even wealthier.
So fewer workers doesnโt automatically make YOU richer. You can end up working more while your money buys less, while wealthy asset owners benefit disproportionately.
Would cutting immigration make workers better off?
The debate was about whether schools and universities indoctrinate young people and how indoctrination discourages questions and criticism.
Did Kyle overreact?