Question

List several political, social, and economic consequences of having a shrinking workforce population (aged 18–64 years) relative to a growing population of older adults (≥ 65 years) in developed countries.

Answer 1

POLITICAL

politics is meant to be for the welfare of masses and for that, active participation is required by the politicians. It is quite evident that workforce from 18 to 64 years of age is capable of active participation unlike those who are more than 65 because of obvious physical capabilities.

hence, in the above mentioned situation active participation will reduce.

SOCIAL

People aged 18 to 64 also include those group of people who belongs to the new generation and are capable of understanding and resolving the issues of this particular age group constituting the major population of any region.

Hence, in the situation social issues might not be resolved.

ECONOMIC

People aged 18 to 64 are the true risk takers and have innovative ideas to improve and make more profit. Whereas, people above sixty five are experience but not risk takers.

Hence, this situation will lead to a lower GDP