The world is getting older and no one knows exactly what life will
be like in tomorrow's older societies. But we do know that age
dependency ratios - the ratio of retirees to workers - will be much
higher than we see today. The implications of this trend are plain.
The combined effects of fewer workers, more retirees and longer
retirement periods threaten not only the sustainability of pension
systems but also the broader economic prospects of many developed
countries. This book describes trends in birth rates, longevity and
labor force participation and productivity, the cross-border flow
of capital, the globalization of labor markets, the financial
viability of social insurance programs, and the ways economic
output is shared between working-age and retiree populations. Our
most effective solution will likely be a multifaceted one: more
workers, longer careers, higher productivity, and more global
exchange and cooperation.
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