DYNAMICS OF WELFARE OF THE POPULATION OF A COUNTRY

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.