By Peter Zeihan
While the Italians may have mastered the arts of pasta, wine and gelato, they should have been spending less time in the kitchen and more in…another room. That’s right, we’re looking at the demographic problems facing Italy, and Genoa will be our example.
The population of Genoa in 1972 was 950,000. Today, it is under 680,000. The scary part is that Genoa isn’t an isolated instance. Italy’s birth rate has been below replacement level for over 75 years, leading to an aging population and a shrinking tax base. The scarier part is that Italy is just one example of a country facing demographic collapse, as places like Germany, Romania, and Spain are all in the same boat.
Unfortunately, there’s really no practical solutions for these countries to remedy this issue. Sustaining their economies and state functions without a younger generation won’t be easy, but at least we’ll see how nations can adapt to these demographic challenges.
Peter Zeihan is a world expert in geopolitics: the study of how place impacts financial, economic, cultural, political, and military developments.
He presents customized executive briefings to a wide array of audiences including financial professionals, Fortune 500 firms, energy investors, and a mix of industrial, power, agricultural, and consulting associations and corporations.
Mr. Zeihan has been featured in, and cited by, numerous newspapers and broadcasts including The Wall Street Journal, Forbes, AP, Bloomberg, CNN, ABC, The New York Times, Fox News, and MarketWatch.
