A General Theory of Population Aging and Its Impact on Socio-Economic Development

Abstract

Population aging is becoming one of the discussed topics not only in Vietnam but all over the world and is one of the most important social transformation phenomena of the 21st century. This process will affect to most areas of social life such as the labor market, finance, demand for goods and services, education, social security and health care for the elderly, etc. Research on aging, especially in a developing country like Vietnam, has become more urgent than ever, when the aging rate is fast but the average income is low and the social security budget is tight. Therefore, population aging can slow down the economic growth and increase the burden on the budget, even affecting social stability. This article analyzes the current situation and aging trends in Vietnam. Next, it focuses on clarifying the general theory of the mechanism of population aging and pointing out the impact of population aging on socio-economic development. Quantifying the impact of aging on socio-economic growth is very complex, requiring in-depth, multi-disciplinary, multi-field and multi-dimensional research. This analysis has reviewed some reliable assessment methods in the world as well as in Vietnam on aging. The results suggest a more multifaceted perspective on aging, referring to the consideration of the age structure of the population in development. At the same time, research on aging requires the participation of scientists, policymakers, etc. to effectively respond to an aging society.