Noah Smith, a Bloomberg columnist and former assistant professor of finance at Stony Brook University.© Bloomberg
quote of the day
Every year, a dwindling pool of working-age Japanese people is forced to support an expanding pool of gray-haired consumers. This is why Japan’s living standards are falling behind rich countries with growing populations. This means more adults are forced into spending hours doing elderly care, more taxes to pay for pensions and health care, and lower living standards for the elderly.
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