The demographic change in Germany can lead to a shrinking and older population. More workers retire than enter the labour market.
The anxious question for many is: Can Germany rely on sustained economic growth? The answer is no.
But even if the economy grows more slowly, it does not mean that it's people worse off. On the contrary, demographic changes may even help citizens to increase their well-being.
This is the surprising finding of the discussion paper “Old but Happy” (Alt aber Glücklich), presented by The Berlin Institute for Population and Development on 5 March 2012.
The paper (in German) may be downloaded here.