Yes this is what I meant. So when we can “get more stuff for less labor” we should be fine with a lower population, right? We only need one farmer now per hectare, not 10. We only need ten workers to build a car now, not 100, and so on.
Technology is only one part of the equation. If a factory upgrades its machines but loses half its workforce, it could end up producing less than before.
In Japan, technology improvements are not enough to make up for an aging population. So either workers put in even longer hours or the country has to make do with less stuff than before. And workers are approaching their limits.
Yes this is what I meant. So when we can “get more stuff for less labor” we should be fine with a lower population, right? We only need one farmer now per hectare, not 10. We only need ten workers to build a car now, not 100, and so on.
Technology is only one part of the equation. If a factory upgrades its machines but loses half its workforce, it could end up producing less than before.
In Japan, technology improvements are not enough to make up for an aging population. So either workers put in even longer hours or the country has to make do with less stuff than before. And workers are approaching their limits.