Bloomberg Tax
May 10, 2023, 1:00 PM

Falling Fertility Rates Will Upend Migration Policy: Tyler Cowen

Tyler Cowen
Bloomberg Editorial

The continued decline of global fertility rates, especially in wealthier countries, requires a re-evaluation of global immigration policy. As the funding of public pensions becomes a more pressing issue, might governments work harder to bring migrants in, rather than keeping them out?

Some countries can be expected to keep their relatively restrictionist immigration policies. But in these countries, the population will become smaller and smaller while taxes on the young will get higher and higher, in part to pay for the retirements and health care of the elderly. The high taxes will in turn lower living standards, and that may ...

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