Magnus The Age of Aging

How Demographics are Changing the Global Economy and Our World
Erscheinungsjahr 2012
ISBN: 978-1-118-58071-4
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 352 Seiten, E-Book

The year 2008 marks the beginning of the baby boomer retirementavalanche just as the different demographics in advanced and mostdeveloping countries are becoming more pronounced. People areworrying again that developments in global population trends, foodsupply, natural resource availability and climate change raise thequestion as to whether Malthus was right after all.
The Age of Aging explores a unique phenomenon for mankind and,therefore, one that takes us into uncharted territory. Low birthrates and rising life expectancy are leading to rapid aging and astagnation or fall in the number of people of working age inWestern societies. Japan is in pole position but will be joinedsoon by other Western countries, and some emerging marketsincluding China. The book examines the economic effects of aging,the main proposals for addressing the implications, and how agingsocieties will affect family and social structures, and the type ofenvironment in which the baby-boomers' children will grow up.
The contrast between the expected old age bulge in Western nationsand the youth bulge in developing countries has importantimplications for globalization, and for immigration in Westerncountries - two topics already characterized by rising discontentor opposition. But we have to find ways of making bothglobalization and immigration work for all, for fear that failuremay lead us down much darker paths. Aging also brings newchallenges for the world to address in two sensitive areas, thepoliticization of religion and the management of internationalsecurity. Governments and global institutions will have to takegreater responsibilities to ensure that public policy responses areappropriate and measured.
The challenges arising within aging societies, and the demographiccontrasts between Western and developing countries make for afractious world - one that is line with the much-debated 'declineof the West'. The book doesn't flinch from recognizing the ways inwhich this could become more visible, but also asserts that we canaddress demographic change effectively if governments andstrengthened international institutions are permitted a larger rolein managing change.

Autoren/Hrsg.

Magnus, George

Über Autor(innen)

George Magnus is the senior economic adviser at UBS Investment Bank and has held this position since 2005. Before this, he was the bank's chief economist with effect from the merger between UBS and Swiss Bank Corporation in 1998, leading a team of professional economists to the highest accolades in the Institutional Investor and other industry analyst surveys. His previous responsibilities involved senior macroeconomic and managerial positions in Union Bank of Switzerland, SG Warburg and Bank of America. Mr. Magnus' research is widely known and respected in the financial services community and the business media in the United States, Asia and Europe. He was one of very few to articulate at the beginning of 2007 that a major credit crunch in the United States and the West was likely, with damaging and long-lasting economic consequences around the world. He lives and works in London, is married, and has four children.