- 11 Nov 2019 06:33
#15047799
Many countries, including the U.S. have been bringing in workers from other countries to take care of their aging populations. It's often said by policy-makers and politicians that "there's not enough workers to take care of the old", but the real issue is more about getting skilled and semi-skilled workers who don't have to be paid as much.
Well, this makes sense on one level, doesn't it? If you have a lot of old people with limited financial means, and they need to be taken care of, why not bring in lower cost care workers from other countries? Sounds like a win-win, doesn't it? Someone needs to staff all those nursing homes.
The thing is though, who's going to take care of all these workers when they eventually become old?
When you step back and look at this you see it's actually a pyramid scheme, of sorts.
You get one group of workers, don't pay them very much, and then they're going to need to be taken care of. Naturally the solution will be to bring in another round of foreign care workers. Is this really a sustainable solution long-term?
I think a demographic crisis is looming. When the next generation moves into retirement there's going to be a big shortage of care workers to take care of all these people in their old age. It's going to put a strain on government budgets, and put a lot of old people with limited financial means into a pinch.
Looks like Germany is beginning to have problems with this now:
All these retiring old people are going to put a strain on the state's pension system, ironically the very thing bringing in migrant workers was supposed to avoid. This is going to have implications for many other retired people in the country.
The idea that bringing in hoards of random people from other troubled parts of the world could be a solution to the aging demographics problem was based on numerous false assumptions, in my opinion.
As the supply of workers increase, it's going to start tipping the balance of supply and demand for labor, driving wages down.
There are not going to be enough higher paying jobs for all these additional people, and even if there are, the question remains where is the money going to come to train them all. Has anyone really looked at the exact mathematics of the cost to benefit of providing education to all these people, or have we just automatically made the assumption it will automatically pay off, no doubt about it?
You can add more workers, but it's not going to help contribute to government revenues if the amount it costs to have these additional people exceeds what they are paying in taxes. And in any population, not everyone is going to be working, there are children, unemployed people, chronically sick and disabled people, older people. We all know the jobs available to these foreigners tend to be the lower paying ones.
Then there is the effect on housing. Adding more people does not merely just add more workers in isolation. It also puts more pressure on housing in higher demand city areas. These city areas have shortages of affordable housing. More shortages will drive up prices for already existing housing, and exacerbate poverty. Probably going to be the younger generation and renting class who will pay the price.
One of the main reasons young people in city areas have been putting off starting families and having children is the very high cost of housing.
Well, this makes sense on one level, doesn't it? If you have a lot of old people with limited financial means, and they need to be taken care of, why not bring in lower cost care workers from other countries? Sounds like a win-win, doesn't it? Someone needs to staff all those nursing homes.
The thing is though, who's going to take care of all these workers when they eventually become old?
When you step back and look at this you see it's actually a pyramid scheme, of sorts.
You get one group of workers, don't pay them very much, and then they're going to need to be taken care of. Naturally the solution will be to bring in another round of foreign care workers. Is this really a sustainable solution long-term?
I think a demographic crisis is looming. When the next generation moves into retirement there's going to be a big shortage of care workers to take care of all these people in their old age. It's going to put a strain on government budgets, and put a lot of old people with limited financial means into a pinch.
Looks like Germany is beginning to have problems with this now:
All these retiring old people are going to put a strain on the state's pension system, ironically the very thing bringing in migrant workers was supposed to avoid. This is going to have implications for many other retired people in the country.
The idea that bringing in hoards of random people from other troubled parts of the world could be a solution to the aging demographics problem was based on numerous false assumptions, in my opinion.
As the supply of workers increase, it's going to start tipping the balance of supply and demand for labor, driving wages down.
There are not going to be enough higher paying jobs for all these additional people, and even if there are, the question remains where is the money going to come to train them all. Has anyone really looked at the exact mathematics of the cost to benefit of providing education to all these people, or have we just automatically made the assumption it will automatically pay off, no doubt about it?
You can add more workers, but it's not going to help contribute to government revenues if the amount it costs to have these additional people exceeds what they are paying in taxes. And in any population, not everyone is going to be working, there are children, unemployed people, chronically sick and disabled people, older people. We all know the jobs available to these foreigners tend to be the lower paying ones.
Then there is the effect on housing. Adding more people does not merely just add more workers in isolation. It also puts more pressure on housing in higher demand city areas. These city areas have shortages of affordable housing. More shortages will drive up prices for already existing housing, and exacerbate poverty. Probably going to be the younger generation and renting class who will pay the price.
One of the main reasons young people in city areas have been putting off starting families and having children is the very high cost of housing.