Term for the fact that people in developed countries are getting older and older. This tends to put pressure on the currencies of the countries or currency areas that are particularly affected by aging, especially in the euro area. – Already, too many promises to pay for the future have been taken on, especially pension and social benefits. This further increases the national debt; as early as 2040, the accumulated mountain of debt in Germany will devour fifteen percent of the gross domestic product for interest payments. – If every German were to live three years longer in 2050 than in 2010, reliable calculations indicate that the state would have to incur additional expenditure amounting to two-thirds of the gross domestic product. Assuming the GDP of the
year 2010, then this corresponds to an increase in expenditure of 2,245 billion euros. – The name is derived from a biblical male who lived to a very old age by the standards of his time (78 years?); it is difficult to say exactly how old, because at the time the Old Testament was written, the numbers did not have the unambiguous calendrical meaning they have today. – See old-age dependency ratio, demographic hardening, reserve depletion, shadow debt, debt brake, stagnation, secular, aging, senescence. – Cf. Fiscal Stability Report 2013, p. 19 (unfavorable demographic trends pose risks to pension institutions).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/