The Population Time Bomb

Here's a little extract from Mark Steyn's masterful piece in the Wall Street Journal:

Scroll way down to the bottom of the Hot One Hundred top breeders and you'll eventually find the United States, hovering just at replacement rate with 2.07 births per woman. Ireland is 1.87, New Zealand 1.79, Australia 1.76. But Canada's fertility rate is down to 1.5, well below replacement rate; Germany and Austria are at 1.3, the brink of the death spiral; Russia and Italy are at 1.2; Spain 1.1, about half replacement rate. That's to say, Spain's population is halving every generation. By 2050, Italy's population will have fallen by 22%, Bulgaria's by 36%, Estonia's by 52%. In America, demographic trends suggest that the blue states ought to apply for honorary membership of the EU: In the 2004 election, John Kerry won the 16 with the lowest birthrates; George W. Bush took 25 of the 26 states with the highest. By 2050, there will be 100 million fewer Europeans, 100 million more Americans--and mostly red-state Americans.

As fertility shrivels, societies get older--and Japan and much of Europe are set to get older than any functioning societies have ever been. And we know what comes after old age. These countries are going out of business--unless they can find the will to change their ways. Is that likely? I don't think so. If you look at European election results--most recently in Germany--it's hard not to conclude that, while voters are unhappy with their political establishments, they're unhappy mainly because they resent being asked to reconsider their government benefits and, no matter how unaffordable they may be a generation down the road, they have no intention of seriously reconsidering them. The Scottish executive recently backed down from a proposal to raise the retirement age of Scottish public workers. It's presently 60, which is nice but unaffordable. But the reaction of the average Scots worker is that that's somebody else's problem. The average German worker now puts in 22% fewer hours per year than his American counterpart, and no politician who wishes to remain electorally viable will propose closing the gap in any meaningful way.

Blue state values appear to be that of the European welfare state.High cost and decline.Something to think about.You might want to read this whole long piece.