South Korea Is over [video]
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South Korea Is over [video]
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Re: South Korea Is over [video]
#2Genuinely asking - what if every person was held accountable to save for their own retirement, instead of relying on the taxpayer? Would a shrinkage still cause economic collapse?
Seems like the core issue is that we have a system in place that only works when young >> old
Re: South Korea Is over [video]
#3Genuinely asking - what if every person was held accountable to save for their own retirement, instead of relying on the taxpayer? Would a shrinkage still cause economic collapse? Seems like the core issue is that we have a system in place that only works when young >> old
Lot of starving old people... And probably shoplifting... So lot of them would end up in prison which would be quite expensive at least if those prisons were kept at western standards.
Re: South Korea Is over [video]
#4I wonder why immigration was not mentioned as a measure to alleviate the issue.
Re: South Korea Is over [video]
#5Genuinely asking - what if every person was held accountable to save for their own retirement, instead of relying on the taxpayer? Would a shrinkage still cause economic collapse? Seems like the core issue is that we have a system in place that only works when young >> old
What portion of the population currently live paycheck to paycheck? That portion will die in the streets.
Re: South Korea Is over [video]
#6I'm horrified to even ask, but does war typically act as a correcting factor?
Re: South Korea Is over [video]
#7I wonder why immigration was not mentioned as a measure to alleviate the issue.
a quick google search tells me:
- culture fit
- language barrier
- discrimination
i think the biggest is problem is the culture fit.
Re: South Korea Is over [video]
#8Genuinely asking - what if every person was held accountable to save for their own retirement, instead of relying on the taxpayer? Would a shrinkage still cause economic collapse? Seems like the core issue is that we have a system in place that only works when young >> old
> Would a shrinkage still cause economic collapse?
Sort of maybe yes.
Even when you save up the cash up front, you live off return on the investments. Of course you can invest globally, but wherever you invest, you rely on there being a young productive workforce to generate said return on investment.
Ultimately, cash is a nice abstraction, but you need someone doing the actual doing - harvest food, run hospitals, fire stations etc. With many old people around, there's many people who need services (especially health) but few to run them.
Where you are better off is you ringfence the saved up cash for investments, ensuring you have more growth to finance the whole party when it comes to it. In principle the state can do it too, but it's often too tempting not to.
Re: South Korea Is over [video]
#9I'm horrified to even ask, but does war typically act as a correcting factor?
It could, but then who'd be the ones fighting and dying in the war to make new opportunities for the survivors?
Re: South Korea Is over [video]
#10I wonder why immigration was not mentioned as a measure to alleviate the issue.
Korean work culture is so awful I'm not sure they could even find enough foreigners willing to work like this long-term. Also the language is really hard to learn.
The only solution IMO would be a culture change. But this is not going to happen while old people hold the reins everywhere.