A few industries, especially the vice industry, would have us think that older adults are a drain on the economy. Those who want to cut pensions, who have less compassion for the elderly in need, see them as a burden. And those who sell life-shortening vices also cynically say that those who live less are less of a burden on society.
In the United States, Britain and Holland, advocates for the tobacco industry have pretended to be advocates for smokers. For instance, Fisher Phillips gets close to claiming that smoking is a disability, and pretends that employers refuse to hire smoker because of higher health insurance premiums.
Cynically, these same advocates for smokers often fall into line claiming that since smokers die younger, they must be less burdensome on the health system. However, this ignores the fact that illnesses that create disabilities lessen the ability of retired people to contribute to the economy.
We have yet to see statistics for Romania, but in the United States, it is estimated that retired people contribute through the care and volunteer economy. According to Senior Citizens Inc, “The older adult demographic contributes $745 billion worth of unpaid activities and comprises an ‘invisible workforce.’ This includes $604 billion worth of caregiving and $140 billion worth of volunteer and service activities. Without these contributions, the economy would suffer tremendously.”
The older adult demographic contributes $745 billion worth of unpaid activities and comprises an “invisible workforce.” This includes $604 billion worth of caregiving and $140 billion worth of volunteer and service activities. Without these contributions, the economy would suffer tremendously.” – Senior Citizens inc.
We can see the same trends in Romania, where grandparents help look after grandchildren while the middle generation is at work, or where retired individuals help in other areas such as education, advocacy, mentoring, coordination, and so on, both in an official and unofficial way.
However, with pension cuts, more seniors in Romania are living in poverty. This level of poverty could be limiting their ability to care for grandchildren, mentor, and otherwise participate in the “invisible workforce.”