A Little Population Growth isn’t a Bad Thing

One of the more interesting and rarely told stories in demographics is how global population growth is slowing. Consider the following chart:

While the global population is projected (in this case, by the U.S. Census Bureau) to reach 9-billion by 2050, the rate of population growth will have slowed to 0.6% by that year. Some studies, particularly ones that see more rapid economic advances in third-world and developing countries, have an even steeper growth decline, with no net global population increase by 2045.

The trouble is, of course, one of the main engines of domestic economic growth is domestic population growth. The U.S. (and other countries with low birthrates) has benefited from “importing” higher birthrates elsewhere, thus increasing U.S. economic growth. While that can continue, it won’t always as easy as it has been in the past.