Paul Krugman reviews The Coming Generational Storm: What You Need to Know About America’s Economic Future by Laurence J. Kotlikoff and Scott Burns, in the New York Review of Books:
America in 2030 will be “a country whose collective population is older than that in Florida today.” It will be in “desperate trouble” because the expense of caring for all those old people will cause a fiscal crisis. The nation will be plagued by “political instability, unemployment, labor strikes, high and rising crime rates.” That’s the picture painted in The Coming Generational Storm by Laurence Kotlikoff and Scott Burns, a book that has helped to feed a rising tide of demographic alarm. But is that picture right? Yes and no.
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