Download file to see previous pages...
Enhancing their welfare is vital in the light of commending them for their contributions in every aspect of the economy before their old age renders them dependent on the rest of the population.
There are myriad possible solutions to the problems with older people in the economy, and so are the bases of their functionality in solving the underlying problems (Gruescu, 2007). One of the programs that could solve the problems with ageing population is having benefits to higher incomes eliminated. The performance of the economy highly depends on the activities that its population engages into. High income earners have a high potential to maintain themselves throughout their lives. However, care should be taken not to overestimate the potential of an individual high income earner. The choice behind this program is the fact that high income earners can effectively accumulate wealth through mobilizing their resources into profit making activities. Eliminating benefits to high income earners would ensure that the disadvantaged population fully benefits from the set programs, as opposed to distributing benefits to the entire ageing population regardless of individual economic potential.
Retirement age is a critical factor that influences problems with older people in the economy, and many people in the economy, ageing population included, argue that retirement age curtails the working potential of the ageing population in the economy (Lee & Mason, 2011). Raising retirement age would significantly address problems associated with older people in the economy. This is due to the fact that the move would lower dependency ratio among the ageing people, thereby allowing younger populations to accumulate the part of wealth that they would have instead directed to the older people. On the same note, the ageing population will be engaged into work activities that will keep them occupied. Their psychological welfare would be enhanced in the process. These two critical
...Download file to see next pagesRead More
The domination of an ageing population has a number of constraints on state and federal governments' budgetary allocations. First is a considerably high demand for funds and budgetary allocations for public-funded health. A high proportion of the aged, in a population, pose constraints on the income support strategies allocated to old aged.
According to Carstairs and Keon (72), one century back, the average of Canadians population was twenty seven years, but it has shifted to forty seven years, indicating a rapid increase of ageing people. Further statistics from Canada government press has shown that, it is possible for the population of aged people to increase twice the current number in the subsequent two decades.
Australia is regarded as one of the longest living nations throughout the globe (Healy, 2004). But in recent times, growth in the ageing of Australian population can be apparently observed. This particular aspect i.e. intensification in ageing population has imposed unfavourable impacts upon the political situation along with the financial condition of the nation.
A particular trend that has been noticed the world over is ageing workforce population and many human resource managers view this phenomenon. as a negative development. A number of factors have been considered as reasons for the global nature of ageing in workforce population.
There are a lot of reasons for why I have chosen Germany as the country for my case study. First of all, Germany is a very significant country internationally as it has the third largest economy in the world. Secondly, Germany has the second largest population in Europe after Russia.
The holistic age management strategy modifies all these, and in fact looks at the other side of the possibilities for older men and women. The previous decades have been a witness for phased retirement of employees for their psychological and physical welfare.
A "major" conflict between society and the aged group is the cost of servicing the unique needs of the group. (Mynatt 2002 24-41) To be straightforward, the aged are VERY expensive to us as a nation and even more so, as an economy. It is estimated that by 2021 there will be four million British people over the age of 65 and one million of these will be over 80, so there will be an increased need for resources to be committed to servicing the aged.
However, research shows that anything that causes stress to the body or the mind is a cause for concern to individuals wanting to age successfully. Physiotherapy has its work well cut out when it comes to
internal Demand for water and electricity was extremely high, forcing the government to advocate for private investors to step in so as to assist in meeting the demand by minimizing water cuts and the high need for power (Oxford Business Group 125). In its Energy sector the
According to the essay variations in the dependency ratios, level of the government's spending, savings levels leads to stunted economic growth, and reduced output levels if not rectified by economic and fiscal policies. Nonetheless, such issues cannot be remedied by the governments' conventional macroeconomic strategies only.
8 Pages(2000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Ageing population and the economy for FREE!