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Dynamics of Welfare of the Population of a Country

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Cybernetics and Systems Analysis Aims and scope

Abstract

The author shows that there is a limit in economy at which the rate of growth of GDP becomes less than the rate of growth of welfare; and to maintain current welfare, the population decreases by birth rate decrease. In post-industrial economies, the welfare of population is retained and grows due to budget deficit paid off by borrowing. Under the conditions of the world economic crisis lasting since 2008, hasty growth of debt service payments with the retention of welfare of the population will result in bankruptcy of post-industrial economies.

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Authors and Affiliations

  1. Engineering Center of the National Academy of Sciences of Ukraine, Kyiv, Ukraine

    B. B. Dunaev

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  1. B. B. Dunaev
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Correspondence to B. B. Dunaev.

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Translated from Kibernetika i Sistemnyi Analiz, No. 2, March–April, 2015, pp. 151–163.

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Dunaev, B.B. Dynamics of Welfare of the Population of a Country. Cybern Syst Anal 51, 291–302 (2015). https://doi.org/10.1007/s10559-015-9721-1

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  • DOI: https://doi.org/10.1007/s10559-015-9721-1

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