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Consequences of increased longevity for wealth, fertility, and population growth

Author

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  • Bogojević, A.
  • Balaž, A.
  • Karapandža, R.

Abstract

We present, solve and numerically simulate a simple model that describes the consequences of increased longevity for fertility rates, population growth and the distribution of wealth in developed societies. We look at the consequences of the repeated use of life extension techniques and show that they represent a novel commodity whose introduction will profoundly influence key aspects of the economy and society in general. In particular, we uncover two phases within our simplified model, labeled as ‘mortal’ and ‘immortal’. Within the life extension scenario it is possible to have sustainable economic growth in a population of stable size, as a result of dynamical equilibrium between the two phases.

Suggested Citation

  • Bogojević, A. & Balaž, A. & Karapandža, R., 2008. "Consequences of increased longevity for wealth, fertility, and population growth," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(2), pages 543-550.
    • Handle: RePEc:eee:phsmap:v:387:y:2008:i:2:p:543-550
    DOI: 10.1016/j.physa.2007.09.004
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    References listed on IDEAS

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    1. Miguel-Ángel Galindo Martín & María-Teresa Méndez Picazo, 2002. "Cash flow effects on economic growth," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 8(2), pages 155-159, May.
    2. Robert Barro, 2002. "Quantity and Quality of Economic Growth," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Economic Growth: Sources, Trends, and Cycles, edition 1, volume 6, chapter 5, pages 135-162, Central Bank of Chile.
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    Cited by:

    1. Sebastian Guala, 2009. "Taxes in a Wealth Distribution Model by Inelastically Scattering of Particles," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 7(1), pages 1-7.

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