As life expectancy increases for the average American, a large population of individuals will soon enter retirement, generally beginning at 65 years of age. "By the year 2050, there will be an estimated 88.5 million people age 65 and older or 20 percent of the total population, as compared to 39.6 million or 16 percent of the total population in 2009" (Kendall, 2012, p. 372). The early stages of this aging population will represent the boomer generation, which includes those who were born in the mid-20th century. As this group enters retirement, certain functions of the U.S. economic and social system will be impacted.
In response to this information, prepare a written essay, which meets the following outcomes:
Is the United States prepared for the aging "boomer" generation, including in the workplace, in social security, and in health care? What is your reasoning?
What areas of the U.S. economic and social systems will have the greatest impact?
What policies or strategies would help alleviate the burden of this incoming retirement population?
Cited: Kendall, D. (2012). Sociology in our times (9th edition). Belmont, CA: Wadsworth Publishing Co.
Cognizant of the fact that there exist several economic systems in the globe today like socialism, capitalism and communism just to list but a few, the United States of America can be safely described as a perfect model of capitalism-a system where a small group of people control the means of production. Ostensibly, on the social front, the US has been demarcated into three major social classes: the American poor, the American rich and the American middle class. This paper therefore plays an integral role in assessing the interplay between the economic and social system of the American fabric and the average life expectancy of the American citizens.