In her thought-provoking article, Sajia Ferdous challenges the traditional notions surrounding age, society, and the economy. She argues that it is time to re-evaluate the relationships between these three factors and suggests that a more dynamic and innovative approach is needed to address the changing demographics and economic landscape of the modern world.
Ferdous begins by questioning the concept of retirement age, pointing out that the retirement age in many countries is steadily increasing, with some countries even considering raising it to as high as 74. She highlights the fact that a significant percentage of people continue to work beyond the traditional retirement age, challenging the notion that chronological age is the best measure of a person’s ability to contribute to the economy.
One of the key issues Ferdous raises is the idea of a defined working age, as set by organizations like the OECD. She argues that this age bracket of 15 to 64 is outdated and fails to account for the diverse ways in which people of all ages contribute to the economy. She suggests that alternative measures, such as functional age or cognitive age, could provide a more accurate reflection of a person’s ability to work and earn.
Ferdous also delves into the social and economic costs of setting parameters based solely on age. She highlights the prevalence of ageist attitudes in society and the workplace, where older individuals are often perceived as less productive and more of a burden. She argues that these biases can have a detrimental impact on older workers, leading to discrimination and exclusion from the workforce.
The article also explores the historical context of the concept of working age, tracing its origins back to the industrial revolution and the development of modern labor economics. Ferdous explains how legislative milestones aimed at eradicating child labor and improving working conditions led to the establishment of a formal working-age structure. She also discusses the importance of old-age dependency ratios in measuring the economic burden on the working-age population.
In conclusion, Ferdous calls for a reevaluation of the relationships between age, society, and the economy. She suggests that a more holistic approach is needed, one that recognizes the value of both economic and non-economic contributions across all age groups. By uncoupling age from economic measures and challenging ageist attitudes, societies can create a more inclusive and dynamic approach to addressing the changing demographics of the modern world.