DEMOGRAPHICAL SHIFT AND THE AUSTRALIAN ECONOMY
“Population, when unchecked, increases in a geometrical ratio. Subsistence on the other hand increases only in an arithmetical ratio.” – Thomas Malthus (Population Matters, n.d)
This has been the current situation prevalent in Australia. There has been an upward shift in the demography of Australia that has adversely affected the economic performance of the country. The working age segment of 15-64 years has been projected to decline and the aged group of 65 years and older is estimated to increase at a rapid pace.
Source: Commonwealth of Australia, 2004
The above graph clearly represents the problem that is projected to arise in the future. The total population is expected to increase to over 28 million and the segment that is going to increase the most is the population aged between 50-70 years. This segment is estimated to increase by 50% over the next 40 years. This also implies …show more content…
(n.d, n.d n.d). Quotations. Retrieved November 12, 2015, from For a sustainable future: http://www.populationmatters.org/take-action/speak-out/making-case/quotations/
Cheng, A. (2007). The consequences of an ageing population for Australia's future productivity and economic growth, and the associated economic policy challenges. The University of New South Wales. Sydney: Reserve Bank of Australia.
Parker, D. D. (2007). The economic impact of Australia’s ageing population. Committee for Economic Development of Australia.
Commonwealth of Australia. (2004). Australia’s Demographic Challenges. Canberra: Australian Government.
Productivity Commission. (2013). An Ageing Australia: Preparing for the Future. Canberra: Commission Research Paper.
Jones, C. (2007, December n.d.). Australia’s Ageing Population: Economic Consequences and Policy Challenges . Retrieved November 13, 2015, from The University of Western Australia :
“Population, when unchecked, increases in a geometrical ratio. Subsistence on the other hand increases only in an arithmetical ratio.” – Thomas Malthus (Population Matters, n.d)
This has been the current situation prevalent in Australia. There has been an upward shift in the demography of Australia that has adversely affected the economic performance of the country. The working age segment of 15-64 years has been projected to decline and the aged group of 65 years and older is estimated to increase at a rapid pace.
Source: Commonwealth of Australia, 2004
The above graph clearly represents the problem that is projected to arise in the future. The total population is expected to increase to over 28 million and the segment that is going to increase the most is the population aged between 50-70 years. This segment is estimated to increase by 50% over the next 40 years. This also implies …show more content…
(n.d, n.d n.d). Quotations. Retrieved November 12, 2015, from For a sustainable future: http://www.populationmatters.org/take-action/speak-out/making-case/quotations/
Cheng, A. (2007). The consequences of an ageing population for Australia's future productivity and economic growth, and the associated economic policy challenges. The University of New South Wales. Sydney: Reserve Bank of Australia.
Parker, D. D. (2007). The economic impact of Australia’s ageing population. Committee for Economic Development of Australia.
Commonwealth of Australia. (2004). Australia’s Demographic Challenges. Canberra: Australian Government.
Productivity Commission. (2013). An Ageing Australia: Preparing for the Future. Canberra: Commission Research Paper.
Jones, C. (2007, December n.d.). Australia’s Ageing Population: Economic Consequences and Policy Challenges . Retrieved November 13, 2015, from The University of Western Australia :