Economic Generation

"In every country of the world, regardless of its stage of economic development, form of government, or age structure, the highest rates of entrepreneurial activity are found among those who are age 25 to 34. The rate of new business ownership in Japan today is just 1.3 percent, the lowest in the world, followed by France at 1.4 percent and Belgium at 1.6. In China, by contrast, with its (for now) oversized population of young adults, the rate is 11.8 percent."

This quote, from Phillip Longman in an article from BQO, puts quite a different slant on the demographic changes in the West. The decline of the birthrate in the West is more than the dénouement of the welfare state's Ponzi tragedy, it strikes at the very heart of the West's economic generation. Not only will there be less for more, less will be created.

The assumption here will certainly be that the older population will not start new businesses because of the investment in time and energy, but mainly financial risk. Governments cannot--despite their delusions of grandeur--improve time and energy in the population but they can influence risk. Whether through encouraging the creation of investment funds or changing tax structures, the government should look to improving these statistics or building their own new ones by encouraging the older population's participation in new ventures.

But it is difficult for insincere myopic followers to lead.