Social and economic implications are becoming prominent issues with the aging population of developed countries across the globe. Society and individuals may confronted with several issues with the increase in average life expectancy of those countries. Accordingly, this thesis is going to analyses causes, which are going to face by those nations and actions they can take to mitigate the impact of aging population.
Increase in aged basket of developed countries may come across number of issues in the coming years. As predicted by global demographics institutions such as World Health Organization (WHO), most of the developed nations will have more than 20% of their population above 65 year by 2030. Accordingly, policymakers will have to address number issues such as shirking work force of economies, increase in healthcare facilities, increase in old care centers, and change in demand pattern of economy in next few decades. Therefore, it is vital to address above issues in the right directions.
There are number of remedies available to developed nations to fill up those issues arising in aging population. Some of the solutions that can be used by such economies are injecting immigration workers to boost up their workforce so that no decline in their gross domestic productions (GDP). Government can start health care scheme from early ages of young generation to cover up most of their future expenditures. Further, advanced nations can use the strategy of dragging retirement age of people to cut down individual ineffective time at their latter part of life. As an example, United States has average life expectancy of 78 years whereas retirement age has been increased to 68 years. Therefore, various remedies are available to address individual and social issues of aging populations.
To conclude, it is a noticeable fact in the globe with advance sciences and technology that life expectancy and aging population is positively correlated in developed nations. However, individual and social issues can be mitigated by adopting right policy/strategy at early stage.
Social and economic implications are becoming prominent
issues
with the aging
population
of
developed
countries across the globe. Society and
individuals
may confronted with several
issues
with the increase in average
life
expectancy of those countries.
Accordingly
, this thesis is going to analyses causes, which are going to face by those
nations
and actions they can take to mitigate the impact of aging population.
Increase in aged basket of
developed
countries may
come
across number of
issues
in the coming years. As predicted by global demographics institutions such as World Health Organization (WHO), most of the
developed
nations
will have more than 20% of their
population
above 65
year
by 2030.
Accordingly
, policymakers will
have to
address number
issues
such as shirking work force of economies, increase in healthcare facilities, increase in
old
care centers, and
change
in demand pattern of economy in
next
few decades.
Therefore
, it is vital to address above
issues
in the right directions.
There are number of remedies available to
developed
nations
to fill up those
issues
arising in aging
population
.
Some of the
solutions that can be
used
by such economies are injecting immigration workers to boost up their workforce
so
that no decline in their gross domestic productions (GDP).
Government
can
start
health care scheme from early ages of young generation to cover up most of their future expenditures.
Further
, advanced
nations
can
use
the strategy of dragging retirement age of
people
to
cut
down
individual
ineffective time at their latter part of
life
. As an example, United States has average
life
expectancy of 78 years whereas retirement age has
been increased
to 68 years.
Therefore
, various remedies are available to address
individual
and social
issues
of aging populations.
To conclude
, it is a noticeable fact in the globe with advance sciences and technology that
life
expectancy and aging
population
is
positively
correlated in
developed
nations
.
However
,
individual
and social
issues
can
be mitigated
by adopting right policy/strategy at early stage.