It’s not exactly “filial obligation,” but in most economically developed countries, younger workers provide a retirement income for the elderly population. Social security in the U.S., for example, is not something you build up like your Individual Retirement Accounts. The money I was paying into Social Security was used by my parents’ generation, and I’m now collecting from contributions from the younger workforce.
This system works as longer as a young workforce exists. What happens if the number of old people keeps increasing, but new workers don’t show up because of demographic trends or automation?
That is what is already happening in South Korea and Japan. In Japan the sale of adult diapers now outpaces the sale of diapers for babies. The population is shrinking. The U.S. and China are not there yet, but they are approaching that point.
I think it is wonderful that the increase in the world’s population has already slowed. Just be prepared for some new problems we haven’t thought much about.
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