Intergenerational Equity: Can We Lighten the Load on the Young?

Intergenerational solidarity is vital for building a fairer future. Mutual support across the generations makes the world a better place for everyone – old, young and in-between – but demographic trends are throwing the balance out of whack. As populations age, fewer babies and longer lives look set to place onerous financial and societal stress on the young. So, will older generations be considered a burden on society? At a meeting of OECD social policy ministers, John Piggott, a professor of Economics at the Australian School of Business, outlined three key areas where policymakers can be proactive in redressing the imbalance.