Increase in Life Expectancy – The greatest cultural and scientific advances in our history or a crisis ?

A demographic tool has become an economic one, treating a demographic challenge as both an economic crisis and a basis for pessimism justifying drastic reductions in bedrock government programs, including those supporting children and the poor. Even at state and local levels, the aging boomer demographic is repeatedly blamed for our economic difficulties. That is a lamentable mistake. The United States has serious economic problems, and the aging population poses significant challenges, but those challenges are not the main cause of the problems. They should not be treated that way.

The dependency ratio does not justify the solutions that the alarmists propose. Just as important, perhaps, it fails to account for the striking benefits accruing from the dramatic increase in life expectancy in the United States during the 20th century—what the MacArthur Foundation’s Research Network on an Aging Society called “one of the greatest cultural and scientific advances in our history.”

Chosen excerpts by Job Market Monitor. Read the whole story at The American Scholar: The Fear Factor – Lincoln Caplan.

Related Posts

The “graying” of the planet – The case of 30 of the world’s capitals

What do urban people care about most?What do talented professionals in their most productive working years care about most? What are the qualities that cities need in order to continue building prosperity? What about the increasing proportion of older citizens as we live longer or slow our rate of natural population growth? Does a rising … Continue reading →

Canada – Aging population could have a positive effect on the labour market outcomes of youth research finds

Post-recession it is common to hear concerns that youth, facing high unemployment rates, are unable to find good job opportunities. Historically, youth have experienced higher unemployment rates than older workers. In the context of an aging workforce dominated by the baby boom generation and delayed retirement, there appears a general concern that older workers are … Continue reading →

US Declining Labor Force Participation / Aging of the population not the only factor

The aging of the population is not the sole contributing factor in the decline in labor force participation since 2007, contrary to what some have suggested. The participation rate has declined for every age bracket below 54 years old. The effects of these declines can be seen in the figure below. For each age range, we have calculated … Continue reading →

Taiwan / From ‘aging’ to ‘aged’

Official statistics showing an increase in Taiwan’s 65-and-over population indicate that the nation is on course to go from being an “aging society” to an “aged society” Continue reading →

An Aging Workforce is NOT Less Productive

As the population grows older an increasing percentage of the workforce will be past age 60. Older workers are ordinarily thought to be less productive than younger ones, raising the question of whether an aging workforce will also be a less productive one. In new research funded by the Social Security Administration, I consider whether … Continue reading →

America’s Aging Workforce

More older Americans want to work than ever before. There is no question that economic stresses have delayed retirement and driven older people to keep working. But there are other forces at work, and they’re part of a sustained change that’s been going on for more than 20 years. Last week’s strong employment report showed … Continue reading →