From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
The median 65 year old today male will live to be 87, according to the Society of Actuaries. And the average 65 year old woman live to be 89. And that's just the average. We've found that most people who use this calculator are above average. For example, if you are well-educated, a non-smoker and in good health, your estimated life expectancy can far surpass that of your peer group.