Number of Workers per Retiree Declines Worldwide. YaleGlobal. Joseph Chamie. December 22, 2015.
Most governments must juggle budgets and confront the fact that the world has fewer people of working age to support the swelling ranks of the elderly. Chamie analyzes the Potential Support Ratio, or PSR, and suggests the statistic could reveal more about the overall health of an economy than GDP or other common indicators. “The PSR has weighty implications for governments and businesses concerning the labor force, taxation, education, housing, production and consumption, retirement, pensions and health services,” Chamie writes. “The unprecedented shift towards a larger proportion of older persons and concomitant declines in workers is gradually and inexorably necessitating redesign of national economies.” [Note: contains copyrighted material].
[HTML format, various paging].