In recent years, a huge number of people have been continuing to work, passing the traditional retirement age. Therefore, there has been a growing debate about whether the advantages of that circumstance out weigh the disadvantages or not. I completely agree that a longer period for working will be of great benefit to improve economy. This esaay aims to discuss sides of the arguments and provide a reasoned conclusion.
Many strongly argue that the more elder people continue to work, the more younger people lose their chances to find jobs, assuming it will lead to economic depression. While that situation might trigger fewer job opportunities, it cannot be ignored that it is pivotal for the elderly to earn far more money than ever to sustain their lives because of increasing life expectancy.
Furthermore, working beyond the traditional retirement age can play a significant role in solving a serious economic issue, which is ageing population. For instance, in most developed countries, especially in Japan and South Korea, whose birth rates are the lowest in the world, it is one of the most urgent problems that younger generations have to pay extremely substantial taxes for supporting older generations, whose population is much larger. However, if people work for a longer period, it will mean that they will not need to be given aids from other generations.
To sump up, while many state that a longer working period can lead to fewer jobs for younger generations, it has the potential to address the problem of ageing population. Consequently, it is fair for me to say that the merits of it outweigh the demerits.