The Economic Problem of Population Ageing Essay

1.) What difficulties—from retiring baby boomers in the United States to a graying China, to the massive overhang of Europe’s elderly—can private corporations, governments, and other sectors expect as the aging revolution unfolds across the globe? How will changing demographics affect workforce composition? Retirement age? Pension outlays? Taxation? Immigration? Economic growth? How can governments, corporations, and nongovernmental organizations work together to address these issues?

The human species of the world are growing older, and existing longer. Research shows that the average life expectancy of humans living past the age of 80, since the 1800s to that of 2011, has increased by almost 10% per year, with women leading the way with a growth expectancy growing from that of 6.4% to that of 9.6%, surpassing their male counterpart whose life expectancy show an increase from 5.9% to that of 8.2%. As the human life expectancy increases, there also comes an increase concerns by individuals and government official alike in regards to elder care. This literature looks at what is being carried out by individuals as well as government officials to deal with the cost of living longer. We will examination approaches identified

In conclusion the difference between age of the worker have great influence to increase some company, and their performance in work. The worker at the age of 50 is the best worker who should be encouraged to remain in paid employment including their spirit, health and performance, they can work harder than the age up to 60 and work without need some lobar or guardian to do their jobs, because they are still have a good condition to do their

The rapid growth in the number of seniors in America and around the world is creating a global demographic revolution without precedent. During this century, advances in hygiene and water supply and control of infectious diseases have reduced the risk of premature death much. As a result, the proportion of population over 60 years in the world is growing faster than in any previous era. In 1950 there were approximately 200 million people aged over 60 worldwide. By 2000 there will be over 550 million, and by 2025, the number of people over 60 is expected to reach 1,200 million.

There are a host of issues that surround age and ability in the workplace, but examining a few could give a glimpse in the magnitude of the challenge. First, Age, how does it affect a company’s ability to manage long term. Secondly, Ability to perform the assigned task continually.

John A. Challenger, a chief executive of an international consulting firm, proposed that the solution may implementing a program to prolong the working life of older workers. Some of these programs include flexible hours, financial benefits, and even reduced workloads (Challenger). Certainly by gradually moving employees into retirement, more jobs can open. Although a method of job sharing can be detrimental to prolonging employment. Neuville Industries, employs a job sharing system where those with five years of the job are eligible to share their job with another employee who is also eligible (Challenger). That could really hurt and could possibly increase the rate of unemployment in the United States. But the truth of the matter is that, most workers who are eligible for job sharing is about the age of retirement which does not leave much time for new jobs to open.

This journal article overviews the new realities of aging as they are shaped by contemporary social and economic contexts and the processes that give rise to them. It reviews the outcomes and implications of aging as it relates to contemporary social and economic contexts; and it features the importance of viewing the science of human aging through a sociological lens.

The older adult population in the United States has steadily increased thanks to technology and medical advances. While this definitely is an undeniable achievement, it also creates some challenges that society was not as prevalent to face before. Now that people are living longer it’s also means that often times family members are becoming caregivers to their loved ones during their so called golden years. Not only may it be difficult to care for a loved one, but it also becomes even more burdensome when their loved has a disability. In fact “dementia is one of the major causes of disability and dependency among older people worldwide.” (2016). Fortunately there are adult day centers that serve people with dementia and provide services that can benefit them. However many times caregivers are forgotten about and aren’t provided services that can also benefit them as well. While it does take a bit of pressure off of the caregivers while their loved ones are at the day center, it does not eliminate all the other effects. Many people may not be aware that there are detrimental effects that a caregiver may experience as a result of caring for someone with dementia.

In 2017, the world population is at 7.5 billion people. China is the most populated country in whole world. It has “1.379 billion” (Google) people making it the largest populated country. China is also the most largest aging population making it have a high life expectancy and the high accelerating aging rate in the world (Zheng, 2012). China has advanced with technology and also with age. Only “three decades ago, only 5 percent of the populations was over 65; today, 123 million people, or 9 percent of the population, are over this age which a report released by the government states that China will be the world's’ most aged society in 2030” (Huang, 2013). Since, China is the most largest aging population this means that less people are dying and more are living. Since, more people are living this means that need of long-term care, health insurance, adjustment of policies and how to make everyone comfortable living. China is the only country that has an older population exceeding 100 million and annually increases at a rate of 3.2. A dependent territory of China is Hong kong that has “7.347 million people” (Google). Hong kong also has a fast growing aged population. Hong kong is also trying to adjust their long-term care system, pensions system and policies to accommodate everyone living situation.

As aging is a stage of development that cannot prevented, the question of “can one’s aging be more successful than another?” is posed my many. Researchers continually consider the differences between aging successfully, and aging unsuccessfully. As researchers work to complete their studies, many find a reoccurring basis of successful aging. A basis of successful aging can be set including: physical health disease free, chronic illness free, mental health disease free, among many others. The only problem with this basis is the difference from person to person in terms of what makes aging successful. As individuals age, their mental state is a large predictor of how the person will age. A positive mental state about aging, will have a more positive effect on a person’s aging process. Many factors may influence the positivity of aging, such as negative aging stereotypes and discrimination because of older age. These negative aging stereotypes include but are not limited to: older adults are not as smart, older adults are angry all the time, older adults are bad drivers, older adults are isolated and never socialize. In adult aging and development, having a positive outlook on aging will lead to better mental and physical aging.

Aging! We all do it every day, but have you ever thought how it is going to affect the rest of your life or more importantly your career? Aging isn’t something that we get to choose if we participate in, however working is, and aging may affect that choice. Right now, I want you to think about the age of sixty-five. What words pop into your head when you think of someone sixty-five? I’d imagine some of the words you thought of were retired, old, fragile, slow, as well as many others. Those words right there all help to explain the many concerns that one’s employer may have when hiring someone that is of the older population. When we think of the older population in the work force we don’t necessarily think of positive things, instead we think of things. When we think of this population in the workforce we generally think of lower production rates and higher costs. These can create issues among the older population, as employers must consider all the possibilities when hiring someone. We know that more people in the older population are continuing to try to continue their careers, but why? How hard is it for them to continue? What changes have made it easier? How are the younger and middle aged populations perceiving them in the work place? This are only some of the many question surrounding the increase of aged workers.

Aging population can be used as an advantage to increase economic rates growth by keeping them employed as long as possible (Nankervis et al. 2006, p.55). People who are working in a knowledge fields may increase their performance with age, however for more physical positions there is an opposite possibility of low performance with increasing age (Patrickson & Ranzijn, 2006). Consequently, specific jobs may have lack of professional employees. For example by separating workers and using older workers as experience type that can teach and train young employees, as well as use their knowledge will benefit organization in different departments. Also by using younger workers as routine workers or in more physical positions that are hard to perform for older employees will give them opportunity to earn more experience and will keep older employees working as well (Patrickson & Ranzijn, 2006). It is necessary for human resources to distribute their workforce accordingly and to provide required training for their young and old employees.

From 1970 to the year 2000, the world's over-60 population is projected to increase by more than 90 percent" . This is an astonishing number, seeming how the total population was predicted to grow by less than 75 percent . "The most prominent feature of the looming shift in the composition of the working-age population is, of course, its increasing age" . It is hard to say what will happen when suddenly there will be an abundance of older people who are preparing to retire.

However, better healthcare and protection from government result in rising age expectancy, which is a double-edged sword as on one hand, people live longer as shown in report (Friedland and Summer, 2005, Fig 1-2) and on the other hand, the proportion of aging population increases if the younger generation are not reproducing enough, and this is exactly the trend now in developed nations. In the

The world’s population is ageing rapidly. Between 2000 and 2050, the proportion of the world's older adults is estimated to double from about 11% to 22%. In absolute terms, this is an expected increase from 605 million to 2 billion people over the age of 60.