People 65 and older will account for 20% of the population in 2030, up from 13% in 2000. Many prognosticators blame the aging population for the stagnating economy, arguing that as more and more people retire, relatively fewer working people will have to support growing numbers of dependent elderly. But in Purpose and a Paycheck, Marketplace reporter Chris Farrelldebunks this line of thought by showing how a growing movement of elderly entrepreneurs and part-time workers are creating conditions for a stronger and more vibrant economy. Reframing aging will result in faster rates of economic growth and higher living standards for all of us, in addition to a more fulfilling and financially secure second half of life for our aging population.
Chris Farrell is currently the senior economics contributor at Marketplace, American Public Media’s nationally syndicated public radio business and economic program. He is also the economics commentator for Minnesota Public Radio and host of its series "Conversations on the Creative Economy" as well as a columnist for PBS Next Avenue and the Star Tribune. He has published five books on personal finance and the economy, including Unretirement and The New Frugality.