What are the economic implications of ageing populations?

Half full is always more than half empty!

 

And everyone is above average.

 

• AI will not and even never replace all the jobs, so the impact will be limited.
• AI will grow gradually, so not overnight a change that causes 75% of people to lose their job.
  
• When the industrial revolution started, a lot of things got automated. But history shows that the numbers of jobs only increased and that people where able to adapt themselves to the new situation and even quality of life increased. So the industrialization had a positive effect.

• The IT sector grows almost exponentially. That shows that people adapt themselves to the jobs needed and available.This will smoothen the switch to more AI.
• If AI will be so promising more people will learn in that direction, causing a shortage in the other directions as these new AI'ers will not learn for something else anymore. The older people can take then these places.
• The change to more AI will go gradually, and as each year a part of the old people will retire, this will become an extinction scenario (don't know if I translated that correctly).
• Try to find a good plumber or a food mechanic... becomes harder and harder. I know a plumber that makes more money then some IT guys. Supply and demand defines the salary.
• The retired population will create new needs, needs that can create opportunities for people that cannot follow the AI wave.

 

I agree, but:

• above average smart ?
• above average stupid ?

 

Even if the retired populations create new job needs, if a lot of your population is aging there would be a shortage of workers to fill those jobs.

 

Anyone wanna guess the average age of a taxi driver in Japan? No peeking...

 

60? An average of around 40 here, +10 to account for an older society, +10 for the trivia fact making it to the news.

 

Yeah, it's arnd 60, maybe even a bit higher now...

Anecdotally, there are lots of 80+ year olds driving cabs in Tokyo, so that they can support their 100+ year old parents, lots of whom are hooked up to feeding tubes in hospitals.

 

They should give the kids the social security when they are young, and then take it away and make them start paying for it when they get older and have a job, like at about 65 when they get their first job.

 

With autonomous vehicles coming soon, they will have to find other types of jobs to support their 100+ year old parents.