The higher proportion of the older population will overtake the younger generation. What is the reason? Is it positive or negative development?
A burning phenomenon is surfacing: the prospect of demographic composition leaning in the favor of the old populace. The reason seems to stem from many factors, which will be discussed in the following paragraphs and a conclusion will be drawn whether this trend is beneficial or not.
To start with, as the world is progressing, many diseases have been eradicated due to advancement in medical fields, which has resulted in elongating life expectancy, especially among elders. By virtue of this, there has been an increase in the number of old individuals. Moreover, low birthrate among youngsters is another cause for this prevailing tendency. This is to say, many are dissuaded from becoming parents since they are engrossed in their professional obligations in order to meet ends and make a sufficient living for themselves; consequently leading to a negative population growth. For example, in Japan, young individuals are working their fingers to the bone to fulfill their basic needs, not giving a bean about offsprings, and hence witnessing climbing index of the older people every year.
Having said that, this is surely a detrimental trend. If such scenarios take a peak, there will be a dearth of young professionals suited for essential jobs: masonry, plumbing, miners, fishermen and so on, where physical strength is a much required trait. Similarly, there will be an immense burden on the government to support the retired people. In other words, the lawmakers have to increase the financial allocation on medical grants, pensions and old-age homes, ultimately shifting the pressure on tax payers to pay more. To corroborate, a recent survey revealed that many are incapacitated to save for the future since they are paying additionally to aid the old age homes and pensions.
In conclusion, this population composition shift is being fueled by advanced medical facilities that have helped ensure longevity, and lower birth rates. However, this transition presents a bleak picture since there will be less young workers for completing specific jobs and the state will have to support the aging populace.
