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Martin Weale, director of the National Institute of Economic and Social Research in Britain, argues that saving by Germans is no more than is needed to make reasonable provision for its aging population, while Britain and the United States "decided not to make adequate provision for their collective old age".
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The emerging world as a whole will see its collective old-age dependency rate almost double, to 22 per 100, by 2035.The received wisdom is that a larger proportion of old people means slower growth and, because the old need to draw down their wealth to live, less saving; that leads to higher interest rates and falling asset prices.
With regard to both individual (personal) and collective (societal) spheres, negative images of old age dominate public debate.
Collective consciousness combined with medical advances made the "new old age" a reality.
Formal education, which usually takes place in the early years and forms collective opinions and mores, tends to enhance the difficulties in adapting to old age.
The social aspects of old age are influenced by the relationship of the physiological effects of aging and the collective experiences and shared values of that generation to the particular organization of the society in which it exists.
The contingencies which were the principal threats to existing standards were "(I) industrial accidents, (2) illness, (3) invalidity and old age, (4) premature death, (5) unemployment" (ibid). All these, Seager felt, were legitimate objects of collective action.
See also aging; old age.
Ah, old age.
Old age, indeed.
"Especially in old age".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com