How do we think about demographics?
In November 2008, as the global financial system was wilting, Her Majesty Queen Elizabeth opened a new building at the London School of Economics and asked two deceptively simple questions of the gathered academics.
The first was why nobody saw the crisis coming and the second was if the system was so large, how come everybody missed it?
And so, somewhat unfairly, the bubble in economic respectability was popped. Ever since, academics and policymakers have been trying to better model the world around them.
Without mass migration into an ageing population, the pool of available workers will shrink, reducing productivity and creating economic headwinds. Are those countries destined to follow the Japanese disinflationary example, where the demography is indeed destiny and it will be hard to change course population has already shrunk by 2 million since 2010 and is forecast to shrink by a further 16%, or 20 million people by 2050?
We use mindmaps to organise and articulate our thoughts about subjects that are conceptually complex, and below shows our theme demographics.