Answer to Question #260430 in Sociology for Pilisiwe

Question

Discuss the major developmental challenges policy-makers will have to think about the aging population

Answer 1

With populations in places such as North America, Western Europe, and Japan aging more rapidly than ever before, policymakers are confronted with several interrelated issues, including a decline in the working-age population, increased health care costs, unsustainable pension commitments, and changing demand drivers

Aging populations also pose a challenge of fiscal and macroeconomic stability of many societies through increased government spending on pension, healthcare, and social benefits programs for the elderly. This may hurt economic growth and overall quality of life if governments need to divert public spending from education and infrastructure investment to finance programs for the elderly.

Population aging have a challenge where by the increase of the share of older individuals in a society due to fertility declines and rising life expectancy leading to an irreversible global trend with far-reaching economic and socio-political consequences.