1.35: This is how many children a woman in Germany gives birth to. In order to keep the population constant, there would have to be a two in front of the decimal point. A third of the parents’ generation is missing. The pay-as-you-go system, the most important pillar of our pension system, has long been unfinanceable. Open-heart repairs are now taking place. A capital stock should be built up, the so-called pension be abolished at 63. But the core of the problem remains unaddressed: What has to happen for couples to decide to have more children again?
