AEI Press
Global population aging and its economic consequences.
More people are living longer, fewer people are having babies, and the result is a smaller workforce and a larger cohort of the aged. Lee (economics, U. of California, Berkeley), in this lecture delivered at the American Enterprise Institute in September 2005, asserts that the situation is more complex than the public and even many policy-makers believe. He points out that a smaller number of people of working age results in higher income and productivity per person, a situation that is favorable to public and private support of those beyond working age. In other words, the system is nearly self-correcting, given careful assessment and corrections and prudent policies, and the question of whether the aged will become "too burdensome" is irrelevant. (Annotation ©2007 Book News Inc. Portland, OR)
