Population ageing and the demographic deficit: exploring the second demographic dividend

The population of most high-income countries is projected to both age and decline across the 21st century. The shift from predominantly young to predominantly older populations is conceptualised as one of concern as nations struggle to finance the social security, health, social and long-term care which are required to support a growing number of older persons. This is seen as particularly challenging as it sits alongside below replacement childbearing, which is reducing the potential numbers of workers to provide this increased financial and practical support. However, the chapter argues that the rhetoric of an ageing crisis reveals a simplistic understanding of the demographic changes ahead. The chapter explores the evidence behind fears of a demographic deficit, and highlights the ways in which countries may support demographically resilient societies and develop appropriate long-term policy responses aimed at ensuring prosperity and well-being for all ages. This requires moving beyond narrow quick-fix approaches focused on population numbers towards comprehensive population and social policies aimed at ensuring prosperity and well-being for all.