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Birthquake: The Baby Boom and Its Aftershocks. By Diane J. Macunovich. Chicago: The University of Chicago Press, 2002. Pp xiii, 314. $37.50

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  • Mills, Judith Woerner

Abstract

Before I had even finished reading the first chapter of Diane Macunovich's new book, three things were crystal clear:People matter: a society's demographics need to be considered explicitly when trying to understand or to forecast its economic behavior.Einstein's conclusions about relativity apply to economies: changes in the relative size and age composition of a population can lead to major changes in its social and economic behavior.Economic demographers rule! From now on, users of long-term forecasting models will need to include information on changes in age structure and cohort size if they wish to forecast events more than a few years ahead.

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  • Mills, Judith Woerner, 2003. "Birthquake: The Baby Boom and Its Aftershocks. By Diane J. Macunovich. Chicago: The University of Chicago Press, 2002. Pp xiii, 314. $37.50," The Journal of Economic History, Cambridge University Press, vol. 63(1), pages 295-296, March.
    • Handle: RePEc:cup:jechis:v:63:y:2003:i:01:p:295-296_54
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