I like to think that on the impact side, there is a soft social contract to have enough kids for replacement to make elder care sustainable. Don’t know if anyone actually thinks of that when having kids, but maybe people will more in the future.
Why does saving for retirement work? Money is just a medium of exchange. All retirement plans in history have assumed there is consistent economic growth. In the worst case, at least a stable economy with low inflation. Not having enough people to replace elders breaks these assumptions.
A child is typically a worker when they are an adult and thus a net + to GDP. By having children, you are more or less ensuring that by the time you are a net—to GDP, there will be a net + to GDP.
He was responding to the selfish reason—“my children will take care of me in my old age”, not the social reason—“my children will be a small part of keeping the economy running in my old age”.
I like to think that on the impact side, there is a soft social contract to have enough kids for replacement to make elder care sustainable. Don’t know if anyone actually thinks of that when having kids, but maybe people will more in the future.
It’s more usually about having kids to take care of you in your old age.
When I word that as such, people usually reply about how children aren’t guaranteed to care for you in old age.
There are no guarantees in life.
And for the cost of having children you could save quite a lot for retirement!
Money can do a lot, but it cannot buy people who will not merely care for you, but care about you in your declining years.
Why does saving for retirement work? Money is just a medium of exchange. All retirement plans in history have assumed there is consistent economic growth. In the worst case, at least a stable economy with low inflation. Not having enough people to replace elders breaks these assumptions.
A child is typically a worker when they are an adult and thus a net + to GDP. By having children, you are more or less ensuring that by the time you are a net—to GDP, there will be a net + to GDP.
He was responding to the selfish reason—“my children will take care of me in my old age”, not the social reason—“my children will be a small part of keeping the economy running in my old age”.