Using Technology To Solve Population Ageing
Immigration can solve population ageing. That myth has already been debunked several times. You just need to turn on the golf to watch players of all ages playing the game.
Solving the problem of an ageing population through immigration is inconsiderate. The birth rates of mothers are unchanged in this regard. It largely forgets the social and economic impact it could have on the existing infrastructure. But if not immigration, then what?
The answer is technology.
Japan is one of the fastest ageing countries worldwide, with the elderly population on track to reach 40 percent of its total population.
A rapidly ageing population is a problem many nations around the world may face in the future and onlookers may view on Japan as an example on how to deal with an ageing population.
Japan has a very tight labour market whose unemployment rate is at an all-time low of 2.2% and rather than loosen its immigration policy to attract more immigrants, Japan has instead used its technological advantage by using robots to automate its workforce.
Despite numerous arguments against automation, Japan with its ageing population has demonstrated low unemployment rates, an affordable housing market, and a relatively high GDP growth per capita.
MIT economists noted that there is no relationship between population ageing and economic decline. Contrary to was believed, population ageing actually seems to be associated with the growth of GDP per capita; that is in part because of Japan’s use of robots.