The world’s 7 billionth person was born on 31 October 2011 (Figure 1). Is this landmark event good news or bad news for the global economy and environment? An age-old debate has been re-ignited about whether population growth is a blessing, a burden, or both. This time around, a new concept called the demographic dividend is helping to frame the debate.
A country’s fertility rate (the average number of children a woman gives birth to) falls during the demographic transition. The result is fewer dependent children and relatively more productive teenagers and adults in the population. A large body of young, healthy and aspirational people can boost economic growth, provided there is investment in education and employment, and little emigration or state corruption.
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