Development has brought numerous benefits to human society like high birth mortality, high life expectancy etc. At the same time, there are many new challenges which have cropped up as a side effect of the development. For example, the ageing population is developed countries has created an enormous financial burden. This essay would elaborate about few of the effects of the ageing population on developed societies and would also talk about few possible steps which can be taken to overcome these problems.
A country needs working masses to produce enough output to sustain its population. These younger generation working people are the backbone of the financial system and add to Gross Domestic Product, a benchmark of development index. In developed countries, it is argued that the population ratio is skewed towards older people who are adding least to the gross domestic output and hence creating a financial burden on working masses and to the governments. China was fastest growing economy till last decade when it had most of its population younger and hence in workable condition. With development, its population I older now due to various reasons including higher life expectancy. This has significantly brought down China's growth because there are fewer people to work in its factories. Hence, we can see clearly link the financial degradation occurring in developed and developing nations to its growing aged people.
But, as it is said, every problem has a solution, so has to this problem too. Governments should first try to attack the root cause directly by encouraging citizens to opt for more children. Tax rebates and other incentives should be given to families who have more than 3 children. This will solve the problem in near term. As an immediate solution, the laws should be tweaked to encourage immigration. Younger and productive people from developing countries would help elevate the gross domestic output immediately. These measures, as one can see, are increasingly being popular in the United States and Canada.
Therefore, while financial impact of the ageing population is huge but it can easily be overcome by taking certain measures like allowing foreign immigrants and encouraging high birth rate.
Development
has brought numerous benefits to human society like high birth mortality, high life expectancy etc. At the same time, there are
many
new challenges which have cropped up as a side effect of the
development
.
For example
, the
ageing
population
is
developed
countries
has created an enormous
financial
burden. This essay would elaborate about few of the effects of the
ageing
population
on
developed
societies and would
also
talk about few possible steps which can
be taken
to overcome these problems.
A
country
needs working masses to produce
enough
output to sustain its
population
. These younger generation working
people
are the backbone of the
financial
system and
add
to Gross Domestic Product, a benchmark of
development
index. In
developed
countries
, it
is argued
that the
population
ratio
is skewed
towards older
people
who are adding least to the gross domestic output and
hence
creating a
financial
burden on working masses and to the
governments
. China was
fastest
growing economy till last decade when it had most of its
population
younger and
hence
in
workable
condition. With
development
, its
population
I older
now
due to various reasons including higher life expectancy. This has
significantly
brought down China's growth
because
there are fewer
people
to work in its factories.
Hence
, we can
see
clearly
link the
financial
degradation occurring in
developed
and developing nations to its growing aged
people
.
But
, as it
is said
, every problem has a solution,
so
has to
this problem too.
Governments
should
first
try to attack the root cause
directly
by encouraging citizens to opt for more children. Tax rebates and other incentives should be
given
to families who have more than 3 children. This will solve the problem in near term. As an immediate solution, the laws should
be tweaked
to encourage immigration. Younger and productive
people
from developing
countries
would
help
elevate the gross domestic output immediately. These measures, as one can
see
, are
increasingly
being popular in the United States and Canada.
Therefore
, while
financial
impact of the
ageing
population
is huge
but
it can
easily
be overcome
by taking certain measures like allowing foreign immigrants and encouraging high birth rate.