The two children and an old woman here,fall on the “burden”category.
In an Africa,Most old age people don’t increase wealth with age,rather reduce .
As in the current generation,where most millennials and gene Z are taught about economic crisis,stock market,saving plans,insurance plans.
These seem not to have worked well in the 18th and 19th century.
With the increasing old age population,we have to understand the economic burden that fates it.
In 2019, there was 9%increase of older person from 6% in the 1990s.This is projected to increased to 16%by 2050.
An economist Carl Ballod, 1913 categorised population by age, according to the contribution they made to the nations economy.
1.Adults between age 20years and 60(the category that’s is fully capable working)
2.Youths between age 15years – 20years and 60years -70 years(have a reduced capacity to work)
3.Youth under 15years and adults over 70years(incapable of working)
Ballod assumed that,the category between age 15-20 and 60-70,are able to survive by sustaining themselves.The under 15 and over 70years are the highest burden since they are not productive in utilization of social resource hence increasing the dependency ratio,While the best category of adults between 20 and 60 are very independent,they can provide for themselves by working it out what they have.
“Belastungskoeffizient” which is the coefficient of burden.
It’s the number of persons under 15 or over 70 years divided by the number of persons between 20 and 60years
Therefore to promote healthy ageing,where getting old is no longer considered a burden,rather an achievement and a well lived healthy lifestyle.
We encourage healthy ageing by corresponding to the Sustainable development Goals (SDG)
- SDG 1- eradication of poverty
- SDG 3- Healthy lives and well being at all ages
- SDG 5-Promoting gender equality
- SDG 8-Favourable work and economic goals
- SDG 10- Reduced inequalities
- SDG 11-suistainable cities and communities
Let’s keep saving the old generation.