Part 8/16:
He underscores the influence of population growth on economic expansion—more consumers and producers fuel growth. Historically, countries with declining populations, like Japan or Italy, witness economic stagnation, highlighting population as a key driver.
However, Shapiro warns that we are nearing Earth’s capacity—the planet’s finite resources (water, land, and energy) suggest diminishing returns and potential stagnation, termed “economic compaction”—a concept less discussed but crucial amid environmental limits.