Part 12/14:
As labor's share of economic power increases due to worker shortages, wages rise, and family formation restarts. This shift benefits workers but could temporarily create labor shortages, pushing up costs further.
A New Equilibrium
Eventually, higher wages boost fertility rates and stabilize populations. As families grow, labor supply restores, and economic power shifts back toward capital—a cyclical process that unfolds over many decades.
The Timeframe for Change
It's vital to recognize this transition is gradual. Societies and economies are only at the beginning stages of this demographic shift, meaning the full impact will take decades to materialize.