In many countries, the proportion of older people is steadily increasing. This phenomenon is called the demographic time bomb. What do you think about this trend? What measures should be taken in order to tackle this problem?
The average age of the population is increasing, albeit slowly, in many developed countries.
This
is a matter of grave concern as it increases the tax burden on the government and restricts the population to work
only in specific professions. This
can be tackled through an efficient immigration policy that focuses on attracting young, outland working professionals
and by inviting students
from a foreign land to pursue higher studies in the country.
To begin
with, when society has more middle-aged people, the government has to incur their health expenses. In addition
to that, there are several professions in which this
section of the population cannot participate. With increasing age, the medical expenses shoot up proportionately and as a result
, higher taxes need to be collected by the authorities to aid them in managing their finances post-retirement. Moreover
, middle-aged people cannot be placed in certain jobs that require physical exertion. To illustrate, in Canada, people in their fifties are unable to take up work
in the manufacturing sector. Furthermore
, their finance minister is forced to frame economic policies that can collect enough taxes from others in order to take care of their post-retirement years. So, I think that the tax burden and the restriction in career choices make the demographic time bomb a negative trend.
One possible way out of this
predicament is to attract foreign students
to pursue higher education in the country. Secondly
, the immigration policy should focus on attracting young working professionals
from other countries. When young adults migrate for their tertiary education, most of the time they contribute to the country’s economy by becoming working professionals
post their studies. In addition
to that, the immigration policy can provide free healthcare facilities to foreigners who are in their twenties in order to lure them to work
there. For instance
, Canada awards extra points to aspiring immigrants who are either students
or in their late twenties to fulfil certain job requirements. Thus
, attracting a young working force and luring students
from a foreign land can resolve the issue of the demographic time bomb.
To conclude, a number of developed economies have an ageing workforce. I believe this
is a negative trend as it restricts them to work
only in less physically demanding professions, and it further
leads to an increased tax burden on the taxpayers. Nevertheless
, a strong tertiary education structure attracting foreigners along with certain incentives provided to the outland, young , working professionals
can help resolve this
crisis.Submitted by abhinaba.de on
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