The bigger question is whether or not subsequent generations will be able to create wealth at all or be required to make do with less. I suspect the answer is make do with less because of macroeconomic trends independent of demographic trends. These macroeconomic trends were overlooked in this article.

Most of the trends described in this article could simply be a reflection of the fact that market constraints to our monetary system were abandoned in 1971 and that the high production capacity in the economy supported by the same cheap oil that was used to create the petrodollar has been suffering a steady loss of capacity as the EROEI of oil has diminished.

Energy is no longer cheap, so everything has to change. We can’t just have ever-decreasing interest rates and ever-increasing monetary easing forever. Increasing debt is not a realistic substitute for real increases in production. Fake economic growth statistics are unsustainable just like the fake careers noted in this article. We most likely will need simply to make do with less and reform our monetary system to work within a zero or no-growth economic model.

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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