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Europe's baby bust: what problem?

Publication: Free Inquiry
Publication Date: 01-AUG-04 		Format: Online - approximately 918 words
Delivery: Immediate Online Access

Article Excerpt
A year or so ago, economic analysts were frantic about Europe's "baby bust," an idea that appears to have travelled across the Atlantic from the United States. They advised that we must "breed for Europe" or import millions of immigrants to forestall economic collapse due to rising pension obligations and a shrinking workforce.

These proposals are now recognized as politically unacceptable. Moreover, they provide no solutions. Falling birth rates and aging populations are nothing new to Europe: life expectancies have doubled in less than two hundred years, and birth rates have been falling for more than a century.

Necessary adjustments are being made. Early in 2004, actuaries advised United Kingdom corporate pension funds to raise their specified retirement and pension ages in line with life expectancy. A Pensions Bill was considered by Parliament, under which people...

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