Intelligent Capital
By Dr. Alan Greenspan, Senior Economic Advisor
July 2020
Prior to the emergence of COVID-19, as I have previously indicated, the defining characteristic of the 21st century was the inexorable aging of its population. Almost a fifth of the population of the industrialized countries of the world were age 65 and older. In earlier centuries, the vast proportion of the population worked until they died. Retirement as we know it today was a rare outcome. As a political consequence, retirement benefits, especially Social Security and healthcare, escalated significantly and are now projected to expand materially further in the
decades ahead.
About our Senior Economic Advisor: Alan Greenspan served five terms as chairman of the Board of Governors of the Federal Reserve System from August 11, 1987, when he was first appointed by President Ronald Reagan. His last term ended on January 31, 2006. He was appointed chairman by four different presidents.
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