Also in several counties and cities, and some parts of Busan and Seoul the fertility rates have reached 0.30 children per woman (And still falling quickly nationwide). How bad and severe this is for SK?
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Fertility crises’ have happened before, for example, in the Late Roman Empire there was a fertility crises amongst Romans. The normal consequence is you’re conquered by people who aren’t having a fertility crisis, however we’re in luck as everyone is having a fertility crises!
The reality is the crises will never be resolved because we’re dealing an interplay of culture and incentives. In effect, culture seems to be the most cost efficient way to keep fertility high and culture slowly evolves in response to incentives. Hence, we’re stuck using a slow tool (incentives) to react to a rapid problem (population collapse). Moreover, if Rome is an example to go by, statemon will opt for vwry minor incentives for having children that won’t actually offset the financial and opportunity costs of having children.
The scary thing is we’re actually way more productive than we have been throughout history so the working age population is going to be able to support the aging population way longer than we all expect, then it’ll just buckle and it’ll be brutal.
Once the brutally passes things will be fairly bright though:
– We won’t have to worry about climate change ad renewables will be able to sustain our reduced population.
– They’ll be less competition for labour so they’ll be less wealth inequality (depending on automation).
-Land and homes will be cheap.
And here is the white pill. If you can have children and you can convince at least one of the children to give you at least one grandkid you’re grandchild will probably get to live a better life than the boomers. They’ll likely be on the other side of the bust and they’ll live through the next boom.
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