More older people than the younger people in many countries> p | Sirojiddin Malikov | IELTS EVEREST

More older people than the younger people in many countries> positive or negative?

An increasing number of the elderly may be disadvantageous for two reasons. First and foremost, there will be not enough workers in the workplace. As people grow old, they will need to retire, and young people will have to replace them. However, falling fertility rates, which are the main determinant of population aging, are leading to smaller youth cohorts. This imbalance in the age structure will cause labor-force shortages. As a domino effect, economies of many countries may falter. For an economy to keep growing and flourishing, there needs to be an ever-expanding size of workforce which will improve the productivity and thus the output.