The Economic Impacts of an Aging Population on a Country's Economy (Essay Sample)

ECONOMIC IMPACT OF AN AGING POPULATION ON A COUNTRY'S ECONOMY
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Policymakers worldwide come across a challenge of probable critical ratios where there is a substantive increase in an aging population. From an economic point of view, countries that had foreseen this challenge decades ago and those that had not still struggle to find resources to pay for the increased pension benefits and cost of healthcare for the elderly members of the society. For example, developed countries such as Italy, Canada, Germany, and Japan have suffered a trend where a high population is between sixty- five years and above and a decreased children population of fifteen years and below. This transformation to an aged society leads to financial difficulties for all sectors in an economy.[. Seiritsu Ogura, and Mihajlo Michael Jakovljevic. "Global population aging-health care, social and economic consequences." Frontiers in public health 6 (2018): 1.] [. Ogura, 1.]