Silver Economy: Pipe Dream or Realistic Possibility?

Börsch-Supan, Axel ()
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Börsch-Supan, Axel: Munich Center for the Economics of Aging (MEA), Postal: Amalienstr. 33, D-80799 Munich

No 201426, MEA discussion paper series from Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy

Abstract: This paper juxtaposes a set of popular myths with evidence and draws three conclusions: First, demography is not destiny – rather, destiny is whether aging societies are able to undergo structural economic reforms which adapt these societies to a different demographic environment. Second, evidence is needed to show that such reforms are possible and have paid off. Third, older individuals have changed. They are healthier and more productive than the generations before. A flourishing silver economy is thus a realistic possibility – but it does require adaption of labor markets and pension systems.

Date: 1970-01-01
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