Moreover, rapid technological innovation has at least partially solved the problems they had faced for some time. The problem we now face stems from population change, but with a different twist. Here composition of population has changed, inducing a large swing in asset prices as a store of value.
With this in the background, we have witnessed asset prices bubble and then collapse spectacularly in some countries, leaving us with severe balance-sheet problems and diminished expectations on investment returns. One may then ask the question: Can our problems also be solved by technological innovation, as they were for Keynes and Malthus? If so, we need not be particularly worried about the present stagnation.