Abstract:

In most economically developed societies at present there is an active debate about the implications of the growing proportion of their populations who are elderly. Here, it is argued that the transition to an older population will be gradual enough to allow time to plan. The importance of the shift in the so-called "dependency ratio" is exaggerated because dependency is unsatisfactorily defined. Nor is there clear evidence that as more people live to be older, health & social service costs will rise accordingly: people are remaining fit to later ages & there is strong evidence that they can continue to make a positive contribution to the economy as workers & as consumers until relatively late ages. Social services can also be redesigned to maximize the independence of the elderly while minimizing costs. Since the aging of society is unavoidable, ways should be sought to treat the elderly as a resource rather than viewing them as a burden.