SUPER-AGED NATIONS FOR BEGINNERS (August 7, 2014)
So-called super-aged nations are in the news. Moody’s has come up with a report warning that aging populations will become a drag on economic growth. According to the rating agency, these are nations where more than a fifth of the population is sixty-five or older. Currently, only Germany, Italy, and Japan are in the club. However, there will be thirteen nations in it by 2020, including Croatia and neighboring Slovenia. By 2030, there will be thirty-four super-aged nations. Apparently, all this comes as a surprise to the business community around the globe. They must have never heard of babyboomers, the largest generation ever. Born between 1946 and 1964, all of them will be sixty-five or older by 2029. Of course, the first babyboomers turned the magic age in 2011. This is elementary algebra, but it is beyond the bulk of the human race. It takes a rating agency to bring it to light and to make some fuss about it. In fact, demographic trends are pretty stable over long stretches of time, and it takes little effort to figure out everything Moody’s has come up with. Unfortunately, most governments around the world remain oblivious to demographics.