The panel was organized by the task force “Aging Population and its Economic Impact + Immigration,” in which Andreas Esche is Co-chair and Martina Lizarazo López is an expert. The discussion focused on the question what strategies the G20 countries must pursue to promote sustainable economic growth and stability in times of population aging.
Andreas Esche pointed out that aging industrialized countries would, on the one hand, have to pursue adaptation strategies such as raising the age of retirement to reduce the burdens on social security systems and public finances. On the other hand, however, “proactive” action is required, such as increasing domestic investments in education (throughout the entire life course), qualitatively excellent and reliable care infrastructure for children and the elderly, integration polices, the digital infrastructure, etc. This could increase the level of employment, work productivity, total factor productivity and GDP growth in an aging society. At the same time, such investments could benefit all generations.