Abstract
Population aging is a great human achievement, but the economic literature normally addresses its effects in a narrow way and as a “problem” to be solved. The objective of this paper is to provide a more balanced approach to aging by calling into question some widespread ideas in the economic literature on aging, such as its supposed negative influence on economic growth, its impact on labor productivity or the assumption that aging societies are incapable of applying reforms. The paper adopts the renewed civil economy framework and takes as a reference the existing literature about beliefs and wrong assumptions on aging. The innovative contribution of this analysis lies in its effort to foster a positive perspective in the population aging field of research and in challenging negative associations regarding old-age stereotypes.
Highlights
Population aging is one of the greatest achievements in recent human history
Even if population aging is the product of great social, political and economic advances, it is common for economic research to look at it as a problem to be solved
Among the many relevant researches devoted to widen the capacity of neoclassical economics to understand increasingly complex socioeconomic processes, this paper provides a more comprehensive and balanced understanding of aging, one of the most challenging current phenomena
Summary
Population aging is one of the greatest achievements in recent human history. A phenomenon produced by the combination of low fertility rates with sustained increases in average life expectancy.A demographic success history that can be seen as a consequence of economic development, social welfare and the advancement on health and medical technologies [1,2,3].Even if population aging is the product of great social, political and economic advances, it is common for economic research to look at it as a problem to be solved. In order to answer this question and based on the civil economy approach, this paper discusses and calls into question several “myths” and widespread ideas in the economic literature on demographic aging and, on three “myths” enunciated by the Joint Academy Initiative on Aging [15], which have a relevant economic impact: first, the supposed negative influence of population aging on economic growth; second, its impact on labor productivity and, the almost irreversible impact of aging on the economic sustainability of the public pension schemes and public health systems, two pillars of the welfare state, a complex organization regarded as impossible to transform in order to respond to a new demographic structure change.
Sign-in/Register to view highlights & summary 
Published Version (
Free)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call