In the future, a higher proportion of elderly people than young people is foreseen in some nations. I firmly believe that this trend has detrimental effects on the society and economy. This essay will discuss the potential drawbacks.
Every country requires productive individuals in order to achieve sustainable economic growth. As a result, many corporations are willing to employ younger minds, who can contribute to the companies’ revenue and use advanced technology. Through the growth of the old people population, productivity might decrease since elderly people, who might need to be employed for longer years, might not have the energy to work as hard as young people, and they might be incapable of fostering new business-related technologies.
In addition, the older generations might require prohibitive medical care. Since many countries maintain their citizens with fully covered medical insurance, the cost of treatments might increase in the future. Many old people suffer from chronic diseases, such as diabetes and cardiac problems. Thus, an overwhelming majority of national income from trading or taxes might be spent to cure these medical problems. Consequently, officials might be unable to address many other challenges in the country, such as educational, cultural, and social advancement. For instance, in some European countries, the proportion of elderly people has increased dramatically, forcing governments to make substantial changes to increase the healthcare budget. As a result, other national aspects might experience severe damage in the near future.
In conclusion, although old people might be beneficial owing to the fact that these generations have invaluable experience and wisdom, many nations need a higher rate of youngsters to achieve their long-term economic goals, and to reduce medical expenses in order to focus on other national attributes.