Greying Economy Faces Public Services Crisis: Private Wealth, Public Poverty
The article discusses how the cost of human services like care and education increases over time due to productivity growth in manufacturing. This can lead to higher taxes and a shift from manufacturing to services. If the population is aging, there may be a greater demand for public services, but the tax base could erode. The study explores how public and private employment affect households and public services, and how public sector productivity is influenced by pay.