TY  - JOUR
AB  - Population ageing has been seen as creating economic problems,
which are often described as a worsening intergenerational conflict for
resources. A rising demographic dependency ratio is said to increase the
“burden” on the working population, by forcing sacrifices in
their consumption. Such apparently intuitive ideas are based on the
assumption of a binding aggregate resource constraint, as would occur if
resources were fully utilized. From a post‐Keynesian perspective,
however, unemployment and excess capacity are normal to the functioning
of capitalist economies, and resources are not in general fully
utilized. Argues that the Keynesian process of national income
determination precludes any immediate relationship between population
ageing and the “burden” imposed on income recipients. Below
full employment, a rising dependency ratio is not guaranteed to reduce
the expenditure share of income recipients or raise their tax rates. An
exclusive emphasis on intergenerational conflict can give a misleading
impression of the consequences of population ageing.
VL  - 19
IS  - 2
SN  - 0144-3585
DO  - 10.1108/01443589210018428
UR  - https://doi.org/10.1108/01443589210018428
AU  - Jackson William A.
PY  - 1992
Y1  - 1992/01/01
TI  - Population Ageing and Intergenerational Conflict: A
Post‐Keynesian View
T2  - Journal of Economic Studies
PB  - MCB UP Ltd
Y2  - 2024/05/05
ER  -