The demographic revolution: implications for society and business

The seminar on “The demographic revolution: implications for society and business”, held as part of the Aspen Seminars for Leaders program, examined the consequences of the net fall in population growth and the increased life expectancy of Europeans, as well as the consequent impact on the economic system. Growing migration flows need to be managed with a view to integration and stability by formulating the necessary institutional responses to deal with the spread of the phenomenon. Yet there is another aspect which calls for Europe to provide appropriate analyses and urgent solutions, namely: the ageing population and increased life expectancy. It is necessary to devise new tools and mechanisms to give substance to the concept of “active ageing”, entailing full integration within the social system and heralding a new market: the so-called “silver economy”. This phenomenon also impacts on an outdated and inadequate welfare system – a system in need of an overhaul given the opening up of negotiations for a new “social contract” between generations.