by Jim Rose in economic history, labour supply, population economics

I hope the robots have taken over by 2050 because there won’t be enough working age people left to pay the taxes to pay old-age pensions.

Source: Pensions at a Glance 2015 – Statistics – OECD iLibrary.

What is scarier is maybe hopefully the robots will have arrived to take over by 2025. Even 10 years from now there aren’t that many working age people to pay the taxes to fund old-age pensions. The Japanese and Germans in particular will be praying for robots to become taxpayers as quickly as possible.