Silver Economy: Pipe Dream or Realistic Possibility?

Content This paper juxtaposes a set of popular myths with evidence and draws three conclusions: First, demography is not destiny – rather, destiny is whether aging societies are able to undergo structural economic reforms which adapt these societies to a different demographic environment. Second, evidence is needed to show that such reforms are possible and have paid off. Third, older individuals have changed. They are healthier and more productive than the generations before. A flourishing silver economy is thus a realistic possibility – but it does require adaption of labor markets and pension systems.