It has been estimated that as a result of declining fertility, one third of the inhabitants of advanced economies countries will have been elderly by 2030. In my opinion, it will have contributed to economic and social problems, on the contrary, they can be resolved by investing money in the health care system and supporting families with children.
By 2030, humanity is likely to have had a deal with challenges such as the financial and the social crisis. In other words fewer number of people will be working and paying income tax, while more number of older people will be retired. For example, as the taxes are an essential part of financial stability and support for various institutions, the falling in the working population will have given a snowball effect and will have led to price growth, tax rises and the raising of the retirement age.
However, from my perspective, there are some potential solutions that can be taken to minimize the impact. Firstly, if the government encourages people with children with benefits, it could provide a sense of stability. For example the Russian government instituted one-off payments for the first, the second and the third children in 2007. The population had been increasing every year, peaking in 2014 when the economic crisis hit. Afterwards, the birth rate has been decreasing. That is why the politics have to be holistic. The next measure is giving parental and maternity leave. It can give an opportunity to not be afraid of being fired or being judged by the boss. The final measure that can be taken is the influx of people that would be provided by attracting able-bodied migrants.
In conclusion, the slump in the number of young people will have a devastating impact on the economies of developed countries, but some measures can at least slow down this process. I believe that the solutions would work better in the long run.