15min chapter

New Books in Economics cover image

Arvid J. Lukauskas and Yumiko Shimabukuro, "Misery Beneath the Miracle in East Asia" (Cornell UP, 2024)

New Books in Economics

CHAPTER

Elderly Poverty in East Asia

This chapter explores the critical issue of elderly poverty in Korea, revealing that approximately 40% of seniors live in poverty, significantly higher than the OECD average of 15%. It delves into the severe consequences of this phenomenon, including increased crime rates and rising suicide rates, while examining contributing factors such as low retirement savings and inadequate pensions. The discussion extends to elderly poverty across East Asia, highlighting similar challenges in countries like China and Japan against a backdrop of demographic shifts and economic pressures.

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