Nowadays, thanks to the development of science in healthcare and medical fields, the life expectancy of humans is gradually increasing. It is expected to bring a positive perspective for the community with the expansion of more healthcare services, while I believe that the lack of labor force and the increase in social cost will make drawbacks surpass the benefits.
Firstly, as the average longevity grows, it will create various healthcare services. There will be more and more hospitals and retirement homes built up to support older people. Moreover, it is a chance to provide a range of jobs, such as for nurses, advisors, etc. This will contribute a large amount of income for the economy. For example, in China, to deal with the aging population, many healthcare centers have been constructed for older people, which not only eases the burden on the economy but also creates jobs for employees. Therefore, the increase in human lifespan can be a new income source for developing and developed countries.
By contrast, the aging population leads to many barriers for the development of society. First, it is the primary reason for the lack of laborers who participate directly in industrialization and modernization. The number of people in the group over 65 years old has jumped up suddenly and rapidly in many developing countries, such as Japan, Korea, and China, etc., which causes a reduction in heavy industry needing manual workers. In addition, the growing number of elderly people is the main reason for rising social costs. Because governments must pay for the large amount of pensions and insurance, the investment in other economic fields will be reduced. Hence, the aging population will cause many challenges for society.
In conclusion, although the increased longevity of humans demonstrates striking achievements in healthcare and brings job opportunities for employees, the lack of laborers and high social cost are significant issues that hinder the development of many countries.