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The Coming Age Wave: What Does it Mean for Economic Development?

It seems like every day we get bombarded with new data about the profound economic effects of the aging baby boom generation. Beginning on January 1, the first baby boomers turn 60 and the economic, demographic and social effects of their retirement, work, and life decisions will reverberate among all of us. For those of us who were too young for Woodstock, it’s just another thing to resent!

This essay is not going to review all the ways this demographic shift will affect America. If you’re at all serious about economic development, you’ve been tracking these trends. Yet, nearly all of this information focuses at either the individual level (e.g., how will career patterns evolve?) or the macroeconomic level (e.g. will the boomers bankrupt social security?). This note takes a different look: how can and should communities respond to the coming age wave. Can
we do things to help our regions prosper (or at least limit the downsides) in the face of these population shifts?

Erik R. Pages

President

EntreWorks Consulting

Full Story and more from Erik’s excellent newsletter: http://www.entreworks.net/newsletter/newsletterv2n3.htm

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