There is a prediction that the number of elderly people will be higher than that of young people in many countries in the future. Personally, I totally follow the idea that this is negative progress, which I will discuss now.
First of all, the worth mentioning here is that there will be a lack of a qualified workforce. For example, the more the elderly is, the less skilful the labour is to contribute to the economy of a nation. If a country wants to boost production and compete with others, it must have a skilled labour force with excellent health and a brilliant mind to cope with the excessive workload. Therefore, a great number of old people mean that productivity cannot be increased due to the ageing population.
Moreover, the more the elders are, the more fund needed to support them. To illustrate, the government in any country always has old-age pension plans for subsidizing or providing insurance for retired workers. Hence, if there is a high proportion of them in the future, the authority may not provide all benefits to all of them since a declining workforce has to cater for an increasing number of retired people. Consequently, economic stagnation will occur as there will not be enough money to invest in other fields such as industry, science, health care and education. If the situation happens for a long time, an economic eruption is inevitable.
However, I do not deny the benefit that this development can offer. The old generation is familiar with traditional culture and way of life, so they can preserve moral values to pass on the young generation, playing the main part in maintaining cultural identity, which is fading in the era of globalization.
In conclusion, this phenomenon definitely has some adverse impacts on any nation in terms of the economy, which can be a financial burden to policymakers.
There is a prediction that the number of elderly
people
will be higher than that of young
people
in
many
countries in the future.
Personally
, I
totally
follow the
idea
that this is
negative
progress, which I will discuss
now
.
First of all
, the worth mentioning here is that there will be a lack of a qualified workforce.
For example
, the more the elderly is, the less
skilful
the
labour
is to contribute to the economy of a nation. If a country wants to boost production and compete with others, it
must
have a skilled
labour
force with excellent health and a brilliant mind to cope with the excessive workload.
Therefore
, a great number of
old
people
mean that productivity cannot
be increased
due to the
ageing
population.
Moreover
, the more the elders are, the more fund needed to support them. To illustrate, the
government
in any country always has
old
-age pension plans for subsidizing or providing insurance for retired workers.
Hence
, if there is a high proportion of them in the future, the authority may not provide all benefits to all of them since a declining workforce
has to
cater for an increasing number of retired
people
.
Consequently
, economic stagnation will occur as there will not be
enough
money to invest in other fields such as industry, science, health care and education. If the situation happens for a long time, an economic eruption is inevitable.
However
, I do not deny the benefit that this development can offer. The
old
generation is familiar with traditional culture and way of life,
so
they can preserve moral values to pass on the young generation, playing the main part in maintaining cultural identity, which is fading in the era of globalization.
In conclusion
, this phenomenon definitely has
some
adverse impacts on any nation in terms of the economy, which can be a financial burden to policymakers.