Given who dies from COVID-19, if the scenario suggested plays out, societies will old populations will be hit harder than those with younger populations.
In developed countries this will produce a wealth transfer to the younger via the inheritance they receive (larger than otherwise because less has been spent?)
Not sure that life expectancy really declines even if the numbers for the year blip down.
Probably some themes we could trace out based on both the change in average population age and per capita wealth based on assuming about impact to global trade dynamics.
In developed countries this will produce a wealth transfer to the younger via the inheritance they receive (larger than otherwise because less has been spent?)
It has come to my attention that although the immediate healthcare costs would be dire and extreme, the long-term economic costs might be lower in future years. This is because if something kills a bunch of old people within a short period under tight triage, this may cost the country less money than having to treat the chronic diseases of old age. Furthermore, very old people generally contribute nothing to the world economy (besides consumption). If a higher proportion of the population is suddenly young does this imply that long-term growth actually higher?
Given who dies from COVID-19, if the scenario suggested plays out, societies will old populations will be hit harder than those with younger populations.
In developed countries this will produce a wealth transfer to the younger via the inheritance they receive (larger than otherwise because less has been spent?)
Not sure that life expectancy really declines even if the numbers for the year blip down.
Probably some themes we could trace out based on both the change in average population age and per capita wealth based on assuming about impact to global trade dynamics.
It has come to my attention that although the immediate healthcare costs would be dire and extreme, the long-term economic costs might be lower in future years. This is because if something kills a bunch of old people within a short period under tight triage, this may cost the country less money than having to treat the chronic diseases of old age. Furthermore, very old people generally contribute nothing to the world economy (besides consumption). If a higher proportion of the population is suddenly young does this imply that long-term growth actually higher?