Abstract
Population aging and the delay in family formation that are occurring in industrialized countries are intimately related. Young adults are spending more of their early twenties attending school and focusing on employment, and they are postponing marriage and childbearing until their late twenties and early thirties. In sum, they are having fewer children later in life, and in doing so, they contribute to the aging of the population. Some argue that population aging results in lower public and private investments in children and greater public expenditures on the elderly. In this article, the author reviews evidence for this argument and concludes that population aging does not necessarily result in lesser investment in children and youth. Instead, our new demographic condition demands a renegotiation of the public intergenerational contract between age groups.
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