A New Source of Economic Growth

Apple Computer once famously advised us to “think different.” It’s time to think different about America’s ongoing demographic shift — and to think seriously about the opportunities it holds.

For decades, we’ve been conditioned to believe that growth is driven by the entrepreneurship, consumerism and aspirations of the young. We’ve learned about new technologies, products and services from our children, often the early adopters, who lead us to new ways of communicating, working and playing. Advertisers and marketers see the young as most open to new fashion and change, and as prime consumer targets. Products and services aimed at the young abound.

Conversely, there is a widely held view that aging hangs like a dark cloud over individuals, families, communities and many countries in the developed world. In the U.S., we hear daily that the aging of more than 78 million baby boomers brings with it the burden of entitlements, the inadequacy of pensions, and the rising costs of healthcare.

However, there’s a silver lining in the cloud of aging – and it’s big. Aging boomers represent a powerful wave of potential and opportunity. Longevity is not diminishing their influence; it’s changing their focus as consumers, leaders, learners and workers. Demography is destiny, and the size of a generation counts.

Now is the time for businesses, investors, educators, public policy makers and others to share in the fruits of longevity, or miss the chance to benefit from a massive emerging market. Are the boomers capable of driving the economy forward?

Full Article and Source:
The Longevity Economy: From The Elderly, A New Source Of Economic Growth