Move over Greece, Italy's Crisis Will Be Worse
https://fee.org/articles/move-over-greece-italys-crisis-will-be-worse/
Falling Birthrates
So what’s the Italian government doing to solve these problems? Is it slashing tax rates? Reducing the burden of government? Cutting back on red tape?
Of course not. The politicians are either making things worse or engaging in pointless distractions.
Speaking of which, I’m tempted to laugh at the Italian government’s campaign to boost birthrates. Here’s some of what’s been
reported by the
New York Times.
…a government effort to promote “Fertility Day” on Sept. 22, a campaign intended to encourage Italians to have more babies. …Italy has one of the lowest birthrates in the world… Italian families have been shrinking for decades. In 2015, 488,000 babies were born in Italy, the fewest since the country first unified in 1861. It has one of the lowest birthrates in Europe, with 1.37 children per woman, compared with a European average of 1.6, according to Eurostat figures."
By the way, I actually commend the government for recognizing that falling birthrates are a problem.
Not because women should feel obliged to have kids if that’s not what they want. But rather because Italy has a massive tax-and-transfer welfare state that is predicated on an ever-expending population of workers (i.e., taxpayers) to finance benefits to retirees.
But
old people are living longer and low birthrates mean that there won’t be enough taxpayers to prop up the Ponzi Scheme of big government.
But while the government deserves kudos for acknowledging a problem, it deserves mockery for thinking empty slogans will make a difference.