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America’s Concerning Correlation Between Population and the EconomyJuly 19, 2007
Recently my Environmental Sciences professor lectured the class on his belief that Americans that were born at the end of the era of the “baby boomers” will have increased hardships brought upon them because they must take care of the aging peoples of the early part of that era. The United States birth rates experienced an increase from about 1946 to 1964 in response to the end of World War 2. The amount of births increased from 2.6 million in 1940 to 3.4 million in only a span of 6 years. The height of this increase was seen in 1957 when the births reached 4.3 million, however after 1964 the birth rate steadily decreased. This has now created a problem because the oldest “baby boomers” are entering retirement and rely on the rest of the society, most notably the youngest of this era, to essentially provide for them since they are out of work.
America’s economy can be split up into three different parts, the most important being the human element. The human resource of the economy can make something that helps fulfill a need or want of the society. However, with America’s aging “baby boomer” population we are losing much of this human resource that is required to provide for the sake and well being of the society. In addition to losing a major workforce, this development will also lead to an increase of resources consumed by the aging population. In essence we are going to have a decrease in production by our human element of the economy and an increase of resources being used up because of the extra resources needed to properly care for the older population of the society. The population replacing these “baby boomers” are now going to be faced with the task of producing goods and services that will become increased because of a lack of human workforce and an increase of human reliance on certain resources to maintain a good level of health.
The explosion of births between 1946 and 1964 had unseen problems that are now coming to life for those that must replacing the aging population from these “baby boomers”. The aging of this population not only leads to a decrease in the human resource of the economy but also leads to an increase in the amount of resources consumed, making this a two-fold problem facing the replacement population. If this replacement population fails to meet the demands now brought forth on them concerning the aging “baby boomers” there will be a massive decrease in the stability of the economy. A lower status for living will also be prevalent for the retired community if the replacement population cannot be provided the necessary resources by the workforce of the society. It may almost be too much to ask that the replacement population of the “baby boomers” to provide for this much but it must be done in order for both the society and the economy to thrive here in America in the near future.
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