Fundamentally, a large part of the total income of an economy comprises the patterns of consumption and savings which is highly affected by the aging individuals and the constantly changing demographics of that country. All the world’s a stage, And all the men and women merely players. That’s how William Shakespeare creates an unexampled analogy between the world and a stage, and its men and players. Coincidentally, even modern-day economics treats men and women as ‘rational players’. But do all ‘players’ contribute to the economy equally? If not, then how can we categorise them into groups? The answer to this…...
Demographic Economics: Studying the Changing Patterns of Consumption and Saving
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