Elderly Entrepreneurship in an Aging US Economy: It's Never by Ting Zhang

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By Ting Zhang

The learn of aged entrepreneurship and its capability impression on exertions, Social protection cash and local fiscal progress is of vital significance, relatively for the united states economic climate the place inhabitants getting older coincidentally intersects with the industrial shift to a "knowledge economy". at the one hand, getting older, mixed with a declining ordinary retirement age, is anticipated to bring about exertions strength shortages and Social safeguard fund exhaustion; but nevertheless, the "knowledge economic system" may well raise the worth of aged human capital because the "knowledge economic system" is much less bodily not easy and extra human-capital- and knowledge-based. development at the software maximization conception, fiscal progress theories and social theories of getting older, this well timed e-book addresses the old-age impact on entrepreneurial propensity; the resources of seniors' entrepreneurship, together with the social and coverage variables affecting seniors' entrepreneurship; and the commercial, economic and hard work affects of aged entrepreneurship. Contents: Socioeconomic history: getting older inhabitants, Resulted exertions and financial Crises, and the potential strategies; aged Entrepreneurship to maintain the exertions strength: percentages and prerequisites; Literature evaluation: past experiences; Theoretical Framework; Age and Entrepreneurship; Social and coverage elements for aged Entrepreneurship; nearby Distribution of aged Entrepreneurship; The influence of aged Entrepreneurship on Metropolitan financial progress; The exertions and Social protection affects of aged Entrepreneurship; end and destiny learn.

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Additional resources for Elderly Entrepreneurship in an Aging US Economy: It's Never Too Late (Series on Economic Development and Growth Vol. 2)

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1. Factors affecting individuals’ retirement decisions Although retirement is basically a voluntary decision in the United States, there are many personal factors influencing older people to decide the timing of retirement, in addition to policy incentives for early retirement and age discrimination. Clark et al. (1999) compared data across states in the United States and found that increases in income per capita over long periods played a significant role in the decline in older men’s labor force participation rate.

Let alone the rising living standard and growing individual demands for health care, the new medicine and treatment are increasingly expensive. All this made it less possible to largely reduce health care cost. During these recent years, the required benefit cuts under Bush’s proposal have caused a huge debate on Social Security. Directly cutting benefits seems against the social progress expectation and seems difficult to the policy implementation. Instead of cutting benefits, increasing taxes to pay for the welfare for seniors is another approach intended to directly mitigate government expenditure pressure, but this approach transfers the government expenditure pressure to workers.

Although promoting female labor force could help to bridge the labor force shortage, this approach has two limitations. First, many American women have already been in the labor force and the effect from putting more women to work could be limited, relative to attracting seniors to the labor force. Second, putting more women into work could possibly further endanger the fertility rate or influence education for children. More flexible work schedule may help women to balance work and family. In general, unless there is a whole series of policies and technology possibilities to ensure the fertility rate and children’s education performance, adding women to the labor force would not be a longterm thorough approach to mitigate the looming labor shortage.

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