The Population Dud

Instapundit points us toward a looming catastrophe no one seems to be talking about, but is the root cause of Social Security and other woes:

To put it straightforwardly, and perhaps a little cynically, in the past children used to be regarded as investments that provided their parents with means of subsistence in old age. In Czech the word "vejminek" (a place in a farmhouse reserved for the farmer's old parents) is actually derived from a verb meaning "to stipulate": in the deed of transfer, the old farmer stipulated the conditions on which the farm was to be transferred to his son. Instead of an "intergenerational" policy, there used to be direct dependence of parents on their children. This meant that people had immediate economic motivation to have a sufficiently numerous and well-bred offspring - whereas today's anonymous system makes all workers pay for the pensions of all retirees in an utterly depersonalized manner.

Read the whole thing.