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The Economics Show
Martin Wolf speaks to Andrew J Scott: Can societies age gracefully?
Jan 13, 2025
Andrew J. Scott, a professor at the London Business School and author of "The Longevity Imperative," discusses the positive implications of aging populations. He argues that rather than fearing rising elderly demographics, we should celebrate them. The conversation emphasizes the need for innovative policies focused on healthspan over lifespan, and acknowledges societal inequalities affecting health outcomes. Scott urges a shift in perspective towards aging as an opportunity, challenging existing pension systems and advocating for proactive health measures.
32:31
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Quick takeaways
- Chronological age is an inadequate metric for well-being, as many over-65s remain active and engaged well into their later years.
- To effectively support an aging population, policies must focus on enhancing the participation of older adults in the workforce and addressing health inequalities.
Deep dives
Understanding Aging: Chronological vs. Physiological
Chronological age does not accurately reflect how individuals age, making it a poor metric for measuring well-being in an aging population. The discussion highlights various concepts of aging, including biological age, subjective age, and physiological age, emphasizing that many elderly individuals remain mentally and physically active well into their 90s. This malleability of aging suggests that merely increasing life expectancy without addressing health quality leads to a decline in overall wellness. The current health system excels in prolonging life but often falls short in maintaining a healthy lifespan, requiring a shift in focus to enhance the quality of life as people age.
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