The United States estimates that about one out of every 10 people on the planet today is at least 60 years old.
The
United
States
estimates
that
about
one
out
of
every
10
people
on
the
planet
today
is
at
least
60
years
old
.
By 2050, it's projected to be one out of 5.
By
2050
,
it
's
projected
to
be
one
out
of
5
.
This means that not only will there be more old people, but there will be relatively fewer young people to support them.
This
means
that
not
only
will
there
be
more
old
people
,
but
there
will
be
relatively
fewer
young
people
to
support
them
.
Professor Richard Lee of the University of California at Berkeley says this aging of the world has a great effect on economics.
Professor
Richard
Lee
of
the
University
of
California
at
Berkeley
says
this
aging
of
the
world
has
a
great
effect
on
economics
.
"Population aging increases the concentration of population in the older ages and therefore it is costly," he said.
``
Population
aging
increases
the
concentration
of
population
in
the
older
ages
and
therefore
it
is
costly
,
''
he
said
.
Aging populations consume more and produce less.
Aging
populations
consume
more
and
produce
less
.
With more people living longer, it could get expensive.
With
more
people
living
longer
,
it
could
get
expensive
.
But Mr. Lee says with continuing increases in worker productivity and smart planning, it can be manageable.
But
Mr.
Lee
says
with
continuing
increases
in
worker
productivity
and
smart
planning
,
it
can
be
manageable
.
Societies have different methods for caring for the elderly, but each carries a cost.
Societies
have
different
methods
for
caring
for
the
elderly
,
but
each
carries
a
cost
.
Generally, there are three types of support.
Generally
,
there
are
three
types
of
support
.
Seniors can live off the wealth they gained when they were younger.
Seniors
can
live
off
the
wealth
they
gained
when
they
were
younger
.
They can rely on their family to take care of them, or they can rely on the government.
They
can
rely
on
their
family
to
take
care
of
them
,
or
they
can
rely
on
the
government
.
In industrialized nations, governments created publicly-funded support systems.
In
industrialized
nations
,
governments
created
publicly-funded
support
systems
.
These worked relatively well until recent years, when aging population growth in places like the United States and Western Europe began to gradually weaken the systems finances.
These
worked
relatively
well
until
recent
years
,
when
aging
population
growth
in
places
like
the
United
States
and
Western
Europe
began
to
gradually
weaken
the
systems
finances
.
These nations now face some tough choices.
These
nations
now
face
some
tough
choices
.
Mr. Lee says the elderly in some of these countries must either receive less money, retire later or increase taxes to make the system continuable.
Mr.
Lee
says
the
elderly
in
some
of
these
countries
must
either
receive
less
money
,
retire
later
or
increase
taxes
to
make
the
system
continuable
.
Most developing nations haven't built this type of government-funded support, but have instead relied on families to care for their elderly.
Most
developing
nations
have
n't
built
this
type
of
government-funded
support
,
but
have
instead
relied
on
families
to
care
for
their
elderly
.
These nations also generally have a much younger population, which means their situation is not as urgent as more developed nations.
These
nations
also
generally
have
a
much
younger
population
,
which
means
their
situation
is
not
as
urgent
as
more
developed
nations
.
But Mr. Lee says that doesn't mean they can ignore the issue.
But
Mr.
Lee
says
that
does
n't
mean
they
can
ignore
the
issue
.
"Third World countries should give very careful thought to this process, to population aging and how it may affect their economies--now, before population aging even becomes an issue," he explained.
``
Third
World
countries
should
give
very
careful
thought
to
this
process
,
to
population
aging
and
how
it
may
affect
their
economies
--
now
,
before
population
aging
even
becomes
an
issue
,
''
he
explained
.
The United States estimates that about one out of every 10 people on the planet today is at least 60 years old. By 2050, it's projected to be one out of 5. This means that not only will there be more old people, but there will be relatively fewer young people to support them.  Professor Richard Lee of the University of California at Berkeley says this aging of the world has a great effect on economics. "Population aging increases the concentration of population in the older ages and therefore it is costly," he said.  Aging populations consume more and produce less. With more people living longer, it could get expensive. But Mr. Lee says with continuing increases in worker productivity and smart planning, it can be manageable.  Societies have different methods for caring for the elderly, but each carries a cost. Generally, there are three types of support. Seniors can live off the wealth they gained when they were younger. They can rely on their family to take care of them, or they can rely on the government.  In industrialized nations, governments created publicly-funded support systems. These worked relatively well until recent years, when aging population growth in places like the United States and Western Europe began to gradually weaken the systems finances. These nations now face some tough choices. Mr. Lee says the elderly in some of these countries must either receive less money, retire later or increase taxes to make the system continuable.  Most developing nations haven't built this type of government-funded support, but have instead relied on families to care for their elderly. These nations also generally have a much younger population, which means their situation is not as urgent as more developed nations. But Mr. Lee says that doesn't mean they can ignore the issue. "Third World countries should give very careful thought to this process, to population aging and how it may affect their economies--now, before population aging even becomes an issue," he explained.