Zuzana Cepla | July 2, 2020
The world is about to face unprecedented challenges. With increasing life expectancy and declining fertility rates in many high-income countries, older populations will grow while labor forces will shrink. The resulting demographic transition, the inversion of the demographic pyramid with more old than young, will be gradual but increasingly dramatic. Inevitably, these changes will adversely impact lives of families and individuals in those nations, as their governments will not be able to fund social security and health care programs that are heavily dependent on contributions from the working populations. Labor mobility can serve as an effective policy tool to at least partially address the looming demographic crisis in the high-income countries.