RMI 2302 NYCE MODULE 13 QUESTIONS AND
ANSWERS
What is the basis of workforce (body vs. mind) of aging? Manual Labor? - Answers -
aging population does not help
What is the basis of workforce (body vs. mind) of aging? Knowledge based workforce? -
Answers - older workforce has experience/knowledge that is valuable
Major Challenges of Aging Population - Answers - 1. Economic development issues
2. Health and well-being issues
3. Challenge of enabling and supportive environments
4. Not uniform across countries some are seeing an aging population coupled with
population decline
5. Noncommunicable diseases become an increasing burden (#1 killer of elderly)
6. Family structures are changing, care options for elderly
7. Shrinking ratio of workers to pensioners (pay-as-you-go systems)
-Social insurance systems are less sustainable
-Effects on social entitlement programs
8. Social/Political Impacts
What are the challenges of enabling and supporting elderly? - Answers - -Slower
economic growth
-Poverty among elderly
-Generational equity
-Inadequate investment in physical and human capital
-Inefficiency in labor markets
-Suboptimal consumption profiles
Savings Rates and Investment - Answers - What happens when large % of population
are consuming rather than saving?
Does capital for investment "dry-up"?
Go elsewhere for capital, loss of influence
Inflation?
Growing risk aversion, shorter investment windows
Social Programs - Answers - Cost to maintain current programs
Addition 7% of GDP needs to go to government budgets
Tax hikes or benefit cuts
Remember elderly vote, overburden of taxes destroy growth
ANSWERS
What is the basis of workforce (body vs. mind) of aging? Manual Labor? - Answers -
aging population does not help
What is the basis of workforce (body vs. mind) of aging? Knowledge based workforce? -
Answers - older workforce has experience/knowledge that is valuable
Major Challenges of Aging Population - Answers - 1. Economic development issues
2. Health and well-being issues
3. Challenge of enabling and supportive environments
4. Not uniform across countries some are seeing an aging population coupled with
population decline
5. Noncommunicable diseases become an increasing burden (#1 killer of elderly)
6. Family structures are changing, care options for elderly
7. Shrinking ratio of workers to pensioners (pay-as-you-go systems)
-Social insurance systems are less sustainable
-Effects on social entitlement programs
8. Social/Political Impacts
What are the challenges of enabling and supporting elderly? - Answers - -Slower
economic growth
-Poverty among elderly
-Generational equity
-Inadequate investment in physical and human capital
-Inefficiency in labor markets
-Suboptimal consumption profiles
Savings Rates and Investment - Answers - What happens when large % of population
are consuming rather than saving?
Does capital for investment "dry-up"?
Go elsewhere for capital, loss of influence
Inflation?
Growing risk aversion, shorter investment windows
Social Programs - Answers - Cost to maintain current programs
Addition 7% of GDP needs to go to government budgets
Tax hikes or benefit cuts
Remember elderly vote, overburden of taxes destroy growth
