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The Silver Economy

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Economics and Ageing

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Abstract

This chapter—the only one in this part—covers the emergence of the so-called grey or silver economy or markets in the context of consumer societies. It reviews the influence of population ageing on the changes in consumer demand across economic sectors. Topics include the notion of the ’ageing’ consumer and the retirement-consumption ’puzzle’. It also reviews the ’successful ageing’ conceptual framework and the notion of affluenza and later life.

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Notes

  1. 1.

    For a review of the literature before 1980, see Meadow et al. (1981).

  2. 2.

    ‘Field’ and ‘habitus’ are concepts introduced by French social thinker Pierre Bourdieu—see Bourdieu and Wacquant (1992), Hilgers and Mangez (2015), and Medvetz and Sallaz (2018).

  3. 3.

    It has to be noted that this hypothesis would apply mostly to the middle classes in developed countries and some developing countries.

  4. 4.

    ‘…aging is not about the inevitable end but rather about the evolving self’ (Schau et al. 2009, p. 256).

  5. 5.

    For example, Fareed and Riggs (1982) failed to find any differences between people aged under and over 65 years in the United States of America.

  6. 6.

    In fact, Hamermesh (1984a) found that consumption a few years into retirement does not fall but that given these levels were not sustainable, households reduced their consumption gradually over time giving way to a J-shaped age-consumption profile in retirement.

  7. 7.

    Baudrillard (1974).

  8. 8.

    Sartori (2000) opined that contemporary societies are characterised by ‘post-thinking’: the individual would have been transformed into a homo videns who consumes so many images that her capacity to think is ultimately annulled.

  9. 9.

    See also Bandura (2001).

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    José Luis Iparraguirre

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Iparraguirre, J.L. (2019). The Silver Economy. In: Economics and Ageing . Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-29013-9_12

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