The Silver Revolution
Agingnomics: the economic opportunities of an aging economy
Antonio Huertas-Chairman and CEO of MAPFRE
Iñaki Ortega- Director of Deusto Business School
How the positive effects of increased longevity can drive economic growth
More diapers for adults are sold worldwide than for babies. By 2050, there will be 420 million octogenarians living on planet Earth. Americans over 55 contributed 3.3 billion volunteer hours in 2016 – the equivalent of 78 billion dollars.
So what’s going on?
In 1890, life expectancy in the United States was just 40 years of age.
Today, there is no country in the world, no matter how poor, where it isn’t longer. Global life expectancy is now above 72 years, and in 30 countries in America, Oceania, Asia and Europe, the average is higher than 80.
Medical advances and improved diets have given us an extra 15 years of life, and the silver generation is making the most of this time. They are working longer, creating new businesses to supplement their income and spending more on health and leisure pursuits. They are giving more too, volunteering with organizations and causes they identify with.
They are redrawing the boundaries between working age and retirement, making the most of opportunities nobody thought existed.
“Huertas and Ortega’s advice – especially their emphasis on equality,continuous skilling and lifelong learning – truly resonates. Their insightful work on the role that the silver generation can and should play, in both business and society, provides a clear path forward to preserve the tremendous knowledge and experience of an entire generation.”
Julie Sweet-Chief Executive Offi cer, Accenture
“A sharp analysis that presents an overwhelming view of our aging demography and its impact, calling us to refl ect on the value of longevity and the challenge it poses: to assume it as a hopeful source of growth, progress, well-being and creativity backed by experience. Our greatest opportunity will be to capitalize on this extraordinary – and little known – potential. Ultimately, we are all heading there – and must be prepared. Necessary reading about the future of our society – and what is at stake.”
Martin Jetter-Senior Vice President and Chairman, IBM Europe
“The silver revolution is a rejuvenating and bold look at one of the most decisive challenges of our time: our own longevity. As the authors state, longevity is going to change the world as we know it. As they passionately and thoroughly prove, it is time to build the positive mindset and the innovative solutions that our society needs to ensure that we not only live longer, but better, fuller and more meaningful lives.”
Juan Antonio Zufiría Zatarain-Senior Vice President, Global Technology Services, IBM
“A commendable work that brings together a rigorous analysis of the current reality (a rise in longevity and the loss of immensely valuable human capital) and creative solutions to make the most of what is in fact a great opportunity.”
Valentín Fuster-MD, PhD, Physician-in-Chief of Mount Sinai Medical Center, General Manager of the Spanish National Center for Cardiovascular Research
“This book realistically examines the opportunities presented by the aging of society and the impact the silver generation will have on our economy. The human factor, training and experience are all assets that matter more than mere age. Education and continuous learning will be essential elements in the working life of anyone who wants to be productive and efficient in an era of constant change.”
José María Álvarez-Pallete-CEO of Telefónica