Economic gerontology: older people as consumers and workers

Abstract

This chapter discusses older people’s roles in the economy. It considers them in their role as workers who sell their manpower in the labour market, and as consumers who purchase goods and services. In Europe, the situation of older workers is currently strongly debated, and several governments have implemented reforms trying to encourage people to work until a later age. Older Europeans’ consumption patterns differ markedly from the ones of younger individuals, e.g. in that older people spend less money. Finally, this chapter discusses how the economic crisis might affect older Europeans.