The money supply must grow because of population increase. Population was almost exponential growth in the last century, but now it has essentially stopped so we are entering a new paradigm.
The stock market under a declining population will be fascinating to watch.
Automation will allow us to produce more with less people resources leading to increased consumption per capita of goods and services letting the game continue.
Population decline will not be kind to society without AI/Robotics to take care of us.
The stock market under a declining population will be fascinating to watch.