According to Lord Adair Turner, population decline should not be feared. It is certainly true that if the population of the UK were to shrink, so would our carbon emissions. Of course, this suggestion might have come with more authority if it had been made while he was still in post.
We have, in the last couple of centuries, unfortunately set up the financial world in such a way as to need a growing population. An increasing size of financial market in each country is required (according to current expertise) yet while there are some gains to be had in efficiency by each person, it is not possible for people to become more efficient endlessly. Furthermore, by this metric, a falling population would be a bad thing, as this would necessitate a shrinking market – even if it were shrinking slower than the population.
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