Add economic decline to the growing list of modern social pathologies flowing from sexual sin.
The suggestion of causality running from demographic tipping points to major economic crisis is, of course, provocative. But even if there are more proximate causes and explanations, the fingerprints of demographics are indisputable. All periods of rapid economic growth, credit expansion, technological advance and financial euphoria are invariably followed by a sombre hangover. Japan blazed this trail a little earlier, but other Western economies followed in the 1990s and 2000s. These trends were unquestionably driven in part by the so-called demographic dividend, or the phase in which the baby boomers reached the age range associated with a change in savings and consumption behaviour. The demographic dividend has now turned into a drag.
A prophylactic society is an unjust society.