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The Myth of the “Aging Society”
For the past two centuries, governments have approached demographic issues with the assumption that calendar years are an objective indicator of age. But with a rapid increase in lifespans over the past few decades, age is not what it used to be, and unless public policy reflects that fact, the dividends of longevity may be squandered.
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LONDON – Economic doomsayers have long warned that the aging populations of industrial and post-industrial countries represent a “demographic time bomb.” Societal aging is bad news for the economy, they say, because it means that fewer people work and contribute to economic growth, and more people collect pensions and demand health care.