In many countries, the proportion of older people is steadily increasing. Does this trend have more positive or negative effects on the society?

Thanks to the technological advances and people’s wealth accumulation, life expectancy has been prolonged. Despite the fact that senior citizens can contribute significantly to society, I would argue that myriads problems could arise from such democratic change. One of the problems associated with population aging is that healthcare expenditure would experience a dramatic increase, which puts lots of pressure on taxpayers. As it is known to us all, most of the medical needs and costs arise in the last years of life. Therefore, the government have to spend more on looking after elder people, while other vital services could be underfunded. Another problem is that with an increasing number of senior workers, the pace of work could be slow because with age, people’s ability to absorb information and to perform tasks would deteriorate. As a consequence, a company’s efficiency and profitability would be compromised if junior staffs put off their retirements. On the other hand, with more people extending their working lives, their experience and knowledge could serve as a valuable asset of the society. People are leading a healthier and longer life nowadays because they pay much attention to a healthy diet and physical activities. As a result, they could impart their knowledge and skills to the young generation. For example, some experienced management would teach younger employees how to manage a company and provide better services. In the nutshell, the rapid extension of life expectancy has put strains on many countries’ healthcare system and reduced their productivity. Although we could make optimal use of senior citizens’ wisdom, I am of the opinion that population ageing would have an adverse impact on economic growth.