베이비붐 시대가 은퇴하게되면 이제 대한민국은 초저성장사회로 빠져들어가게 된다.

How will the society change when the baby generation retires?

베이비붐 시대가 은퇴하게되면 이제 대한민국은 초저성장사회로 빠져들어가게 된다.


I've only thought about the economic areas, except for the political ones

1. a decrease in the proportion of production workers --> a decrease in output --> inflation
The economic growth rate is decreasing
Inflationary pressure is likely to increase

However, there is a part that needs to be opened again
Let's talk about it again

2. a drop in property prices
In general, it takes time to accumulate income to have assets socially, so the elderly have a lot of assets
And after retirement, the elderly sell and consume the assets they collected in their youth.
However, the number of young people is smaller than that of old people
That means fewer people accept assets sold by older people
Therefore, the price of assets falls across the board
Among the assets sold by older people, assets that are unattractive to future generations will not be sold
(We're already seeing this trend in local real estate)

It's about inflation above...
In fact, deflation may occur due to falling asset prices
The modern monetary system supplies money through debt
But when the price of an asset falls, all the loans borrowed as collateral for the asset are either reduced or eliminated
There are fewer things being produced in the world
Money (debt) is also decreasing
Depending on which one shrinks faster, it can be inflation, it can be deflation, it can be stag
As we've seen in Japan, asset prices may fall sharply, not slowly, little by little
This is because sentiment is reflected in asset prices
(Anxiety and hope for the future increase price volatility.)

In addition to rapid asset price fluctuations, volatility may be higher in terms of financial stability

3. an increase in one's previous income
Traditionally, transfer income was made from the rich to the poor
in the future
Transfer income will increase from young to old
In some cases, income is transferred from the sale of assets by older people,
Older groups, who lack sufficient assets among older people, will try to force more income transfers from younger people through their political influence
(We are already seeing this phenomenon
Recent discussions on the pension system also reflect this trend.)
In any case, young people in the future will have to force or voluntarily transfer what they produce to a greater proportion than previous generations
This could lead to a decline in their willingness to work and migration abroad

Anyway, it's not easy
During periods of stagnation or decline in production, we all need to tighten our belts and cut back on eating and spending...
There was a lot of debate about who would have more, even when production increased
I think there will be more controversy over who should have less

(And this is a quadruple...
If we go back to inflation or deflation
In the future, inflation is likely to be high in inflation or deflation
Because most of the transfer of income mentioned in No. 3 above will be made through an organization called the state...
It is more likely that the state will take the form of national debt than the form of taxes when it brings products made by the production class
In the private sector, the debt will decrease due to falling asset prices
The amount of money is unlikely to decrease as the national debt will increase beyond that.)