Empty Planet: The shock of global population decline - Darrell Bricker

In this episode of "Now That's Significant," host Michael Howard and guest Darrell Bricker, CEO of Ipsos Public Affairs, discuss the worrying global trend of population decline and its wide-reaching implications.

Contrary to popular belief, the world population will not continue to grow indefinitely but is expected to peak around 9 billion (rather than the 11.4 billion) before starting to shrink. Below are five key takeaways from the podcast.

Economic Contraction: A shrinking population will lead to economic contraction due to a decrease in consumption. As the population ages, there will be less demand for consumer goods, leading to slower economic growth.

Shifting Power Structures: Countries with shrinking populations, like China, could lose their dominant positions in manufacturing as their workforces shrink and labor costs rise. This could lead to a shift in global power dynamics.

Social Impacts and Cultural Extinction: Population decline, coupled with urbanization, could lead to the cultural extinction of indigenous populations. As younger generations move to urban areas, they may not carry on the languages and traditions of their cultures.

Political Ramifications: With a smaller younger generation, the voting power of older generations will increase. This could result in policies that disproportionately favor the needs of the elderly, such as long-term care and pensions, potentially leading to generational conflicts.

Unsustainability of Perpetual Growth: The current economic model, which relies on perpetual revenue growth, is unsustainable in the face of a shrinking customer base. Businesses will need to adapt and innovate to remain profitable in a world with fewer consumers.

To delve deeper into these thought-provoking insights and more, listeners are encouraged to check out other episodes of "Now That's Significant" on major podcast platforms.