Intergenerational perspectives on ageing, economics and globalisation

Evidence shows population ageing to be historically a product of economic development, closely associated with high living standards and national affluence. Nonetheless, fears that an aged population leads to economic stagnation and public bankruptcy are widespread. In justification for cuts to public programs and the transfer of costs and risks from the state to individuals and families, the projections of social expenditures, in particular those based on ageing, are frequently identified as overgenerous and unsustainable in many G20 countries such as Australia and New Zealand. Claims based on intergenerational research methodologies and frameworks, a relatively new and innovative approach to using data projections, have proven to be important in these policy debates. This paper explores the application of these new technologies to understanding the impact of ageing on the economy in the globalised world of the 21st century.