A front page Wall Street Journal article about “demographics” analyzes age and it’s effects on national economies, effects of “demographics” on economies seems to only refer to age in the “respectable” press. The article follows the general Wall Street Journal formula of assuming that People Are Widgets, a particularly hilarious bit of idiocy was this paragraph:
When U.S. population growth slowed in the 1930s, Alvin Hansen, a Harvard University economist and an influential disciple of John Maynard Keynes, said this caused businesses to invest less because they had fewer workers to equip and because elderly consumption patterns favored personal services over capital-intensive homes and durable goods.
Yeah, that was the problem with the 1930s, a shortage of workers. I highly doubt that Hansen actually claimed this, the WSJ(surprise!) provides no source.