FRHD 3060 Chapter Notes - Chapter 2: Applied Digital Data Systems, Human Capital, Dependency Ratio

• School: University of Guelph
• Department: Family Relations and Human Development
• Course: FRHD 3060
• Professor: Kimberly Wilson

Document Summary

Used for past, present & future trends regarding costs of pension plans, heath care, intergenerational conflict over scarce resources, shrinking labor force, changing family structure & outmoded public policies that benefit cohorts differently. Can be misinterpreted or create irrational fears about the future due to apocalyptic demography. Global aging is tied to global economy, geopolitics & to global humanitarian issues. Population aging is an issue for labour force, economy, health care system & family. 65+ population worldwide is growing by almost a million/month. Public policies & service programs for aging population need to be redesigned. Can be used by entrepreneurs to decide what type of new products to develop & where to sell new products in the health care, travel, leisure, housing or clothing sector. Consumer demand patterns depend on life experiences, preferences & societal change. Conduct cohort analyses to understand unique social & historical events affecting the life course of specific age cohorts (baby boomers: 1946-1965)