Lower birth rates and rising life expectancy present significant challenges
Future of demographic change
When the global population passed 7bn recently, the addition of about 1bn people in little over a decade marked the most rapid period of growth in recorded time.
But even more significant is that the birthrate in most industrialised and some emerging economies is slowing sharply while numbers of elderly are rising very rapidly.
Within the developed world, where old age social security systems predominate, life expectancy has risen from about 66 years at birth in 1950-55 to 77 years today. According to George Magnus, an economist who has specialised ...
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