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In lands I never saw -- they say
Immortal Alps look down --
Whose bonnets touch the firmament --
Whose sandals touch the town --

Meek at whose everlasting feet
A myriad daisy play --
Which, Sir, are you and which am I
Upon an August day?

Emily Dickinson
Learn English in July

Monday Night Owls - 21 October 2019 - The economic potential of an aging population

NatashaTNatashaT Posts: 1,205 Teacher
We read an article which looked at the potential economic benefits that an aging population could cause:

https://www.bbc.com/worklife/article/20190930-the-untapped-potential-of-the-longevity-economy


Vocabulary Top 10:

plummeting - to fall or drop suddenly in amount, value, etc

untapped - available but not used

poised - ready or prepared for something

hover - to stay near a specified point or level

silver economy - the system of production, distribution and consumption of goods and services aimed at using the purchasing potential of older and ageing people and satisfying their consumption, living and health needs

healthspan - the part of a person’s life during which they are generally in good health

longevity - long life : the fact of living for many years; length of life

detrimental - causing damage or injury

stifle - to make (something) difficult or impossible; to stop (someone) from doing or expressing something

pedestrian - a person who is walking in a city, along a road, etc.


Do you think the aging population will have a positive or negative effect on economies around the world?
What could some of the opportunities be?

@VictorJosé @taghried @Shiny03 @aza @Rema @Alexandra @rei @Manar

Comments

  • TomerTomer Posts: 3
    Hi,
    I think that to aging population has a negative effect on economies.
    their productivity is lower and they spend more money on health care, the younger people fond the older- this is the pure economy.
    but I live in social country and i think that this is the right way to live and we must to respect and help the older people, now I am young and I work and pay for social network, and this me insurance for a day that I will be older
  • VictorJoséVictorJosé Posts: 57 ✭✭
    The aging population can be considered as the additional workforce, with their limitation and adaptation of their workplace when necessary, furthermore, they are an important portion of the consumer's market. There are countries projecting that by 2030 this group of consumers will have accounted for more than 67%.
    I think good opportunities for the elders' population are the service market because they are calmer, attentive, often like to talk and like to be listeners. As a result, all the necessary qualities to be good attendance and/or seller.
    More important than all, it´s keeping the elders alive, with the opportunities to teach all of us with their lives experiences and we will have the chance to learn with the best teachers and co-workers.
  • TeachTeach Your Teacher HomePosts: 10,464 mod
    @Tomer - here is your correction:-

    Hi,
    I think that an ageing population has a negative effect on the economy. Their productivity is lower and they spend more money on health care, younger people fund the older people - this is pure economics. But I live in a country with a strong sense of social responsibility, and I think that this is the right way to live. We must respect and help older people. Right now I am young and so I work and pay for social care, and this is my insurance for the day that I will be elderly.
  • TeachTeach Your Teacher HomePosts: 10,464 mod
    @VictorJosé Here is your correction:-

    An ageing population could be considered as an additional workforce, with their limitations, and adaptation of the workplace when necessary. Furthermore, they are an important portion of the consumer market. There are countries projecting that by 2030 this group of consumers will account for more than 67% of spending.

    I think good opportunities for the elderly population is the service market, because they are calmer, more attentive, and they like to talk and tend to be good listeners: all the necessary qualities to be a good assistant and/or sales person.

    Most important of all, is to keep the elderly alive [and healthy], with the opportunities to teach all of us with their life experience, so we will have the chance to learn with the best teachers and co-workers.

    !Note - you can say, "More importantly ...
  • VictorJoséVictorJosé Posts: 57 ✭✭
    Thanks a lot, @Teach ! I´ve always learned with your corrections.
  • taghriedtaghried Posts: 235 ✭✭✭
    If I'm a prime minister I'm going to tap into every single person in my country regardless of their ages.so ageing population won't be as a burden on my budget because I'll let them working as a trainer and help youth by giving them advice that leverage youth's skills, therefore,we can accelerate the pace of development.

    And if they refused to work, then I'll thank them for devoting their time and following the silly rules and sent them the money which cover their living expenses.

    that was my imagination thoughts, that suit with the virtuous country. o:)
  • TomerTomer Posts: 3
    @ TEACH . Thank you very much
  • SarrafSarraf Posts: 27 ✭✭
    I think nowadays most of the jobs have been specialized, I mean now it took longer for a person to acquire the skills that are necessary for being successful in his/her job and as more energy and time and money is being invested in each new employee it will not be wise to waste these resources and not fulfilling the potential that the elder population can possess.
  • filauziofilauzio Genoa ( Italy )Posts: 2,043 ✭✭✭✭✭
    I'm not sure if tapping the economic potential of ageing people couldn't sometimes translate into exploiting them.

    I'm afraid it does though.

    I think that the elderly population should enjoy the same kind of services young people do, just as the Japanese system provide.

    That fact alone should allow a boost in current economical system.

    Furthermore, new opportunities of businesses to elderly would open up, provided they need specifically tailored services.

    I'm thinking for instance of specifically aimed activities such as: intoductory computer and social platforms' courses, soft exercise classes, package holidays, etc.

    Then, services focused on relieving their daily efforts to carry out the most menial though heavy activities: having grocery purchases delivered home for instance.

    People live longer and healthier lives and that poses economic stability at risk, especially since the youth experience an ever larger lapse between education's end and the moment they can enter the labour market.

    This means there are ever fewer young employees paying for the social security system, in particular for retiree's treatment or health care spending.

    Therefore, in order not to fall in credit rating ranking, countries' government could be tempted to retain older workers to workplaces longer.

    This way, the ageing workers themselves would be asked to pay for their own post-retirement assistance.

    I think this should be implemented, if necessary, only on a voluntary basis, especially in case of manual workers.

    I don't think that you could relieve so much the strain, effort of such old workers just by rotating them in different work station, allowing ever diverse ergonomics throughout the shift.

    Unless the company invested in expensive cutting edge AI powered exoskeleton limb's support, in fact, I suspect most elderly workers would rather go strolling in the park.

    A few elderly people had strong evocative and emotional impact on me of late: just the following ones.






    glad to stop strict diet, splashed in belly flop? Don't care you're not light, here on English hop !
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