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Looming labour shortage will transform political landscape Add to ...

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Forget class war. Instead, prepare for the war of the generations, because it is not the rich who are keeping us down, it is the old. It is those baby boomers and a global surge in the numbers of working people that has tilted the scales in favour of capital and against labour.

But a great reckoning is on the horizon because we are crossing a demographic Rubicon. The expansion of the global work force is slowing and we are now heading for a shortage of labour. With fewer people seeking work, wages and prices will rise and investment returns will shrink. The changing economic landscape will change our politics, too, putting the interests of labour back in the driving seat while forcing governments to invest heavily in provisions for the old.

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