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Thursday, July 13, 2017

The Longevity Economy feature in the Economist magazine has one huge omission

This week's Economist Magazine has a series of articles about the economics of longevity. As you would expect from the Economist it is all good stuff. It is well presented and reasoned. There is the usual mix of serious and lighthearted comments. A job well done by the lead author (Sacha Nauta). There is a 'but', a very big 'but'.

I must have read this stuff a zillion times before. To be honest I think I might well have contributed to the what is said. What the article should address is why it will make zilch difference to government, corporates and the older consumers themselves. For heavens sake, we know all these arguments. The challenge and one that the neither the Economist or any other publication is addressing is 'so why aren't we doing something about it'.

As I said in my last book (This I Know). When it comes to increasing longevity and its implications, Governments wish it would go away; companies always have something better to do; and older consumer are unprepared and hope for the best.

I am not for an instant suggesting that there any easy answers but just repeating the same facts and observations has little to no value.   

Maybe the next time the Economist drags its 'Longevity folder' out of the cupboard for another article it will at least admit the problem exists and make a stab at suggesting ways it could be resolved. I very much doubt that will happen. Dick Stroud 

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