In the future there will be more older people than younger people in most countries. Is this a positive or negative development?

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Aging
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Ageing
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population
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is a catch-all term that refers to having an older
population
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. The question of whether or not there will be more older individuals in the future is of great importance. From my vantage point, it makes sense to consider
such
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a notion a negative development as we will face a decline in labour
productivity
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, an
increase
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in
health
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care
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cost, and an
increase
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in dependency ratio. There will be dramatic changes in working
productivity
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due to
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the detrimental impact of the
aging
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ageing
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population
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.
Such
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a development may lead to having older people in different businesses, which is likely to negatively affect the
productivity
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of multifarious businesses. Considering
this
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fact, the economy of most
countries
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will witness rampant inflation since
productivity
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has decreased
to
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apply
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a great deal
due to
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being forced to utilize the older
generation
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as their
population
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is higher. By assessing
such
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uncontrolled inflation in Tehran, it can be understood that the economy's international competitiveness is declining.
Therefore
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,
this
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country will undoubtedly experience fewer goods and services and eventually tend to import
instead
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. Meanwhile, there will definitely be an
increase
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in
healthcare
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costs. Since the world will face a higher number of old individuals, there will be more vulnerable people who are in need of expensive treatment costs.
Healthcare
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spending as a share of gross domestic product (GDP) is already high in most advanced economies; one challenge that advanced economies face is to ensure that when they
increase
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spending,
healthcare
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outcomes improve. As a vivid example of
such
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a negative development, Italy can be considered. With the emergence of Covid 19, a large number of Italians were in great need of
health
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care
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as the large number of citizens in
such
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a country are old individuals. Taken together, there will be considerable growth in the price of
health
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care
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due to
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the
aging
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ageing
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population
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. An
increase
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in the dependency ratio is another devastating impact of the
aging
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ageing
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population
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in the foreseeable future.
Countries
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with larger
aging
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ageing
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populations depend on smaller groups of workers to collect taxes to pay for higher
healthcare
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costs, retirement benefits, and other publicly funded programs.
This
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is becoming increasingly common in developed
countries
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where retirees live on a fixed income and tax rates are much lower than for workers. A combination of reduced tax revenues and mandates to
increase
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spending on
health
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care
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and pensions.
Such
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interests are a significant concern of developed
countries
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such
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as America.
However
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, some might claim that the older
generation
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can help in volunteering activities.
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a cooperative task can help the young
generation
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of that particular country in terms of gaining experiences and knowledge.
This
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is,
however
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, quite rare since the older
generation
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has a lower tendency to aid the given society because they believe that after retirement, they ought to allocate most of their time to resting and not doing productive activities. As mentioned above, an
aging
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ageing
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population
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will undoubtedly be a detriment to the
overall
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growth of
countries
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.
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