When economists construct their macro- and micro-economic models, they usually assume that productivity is something which decreases as we age. This is based on prejudices about age and productivity which are deeply engrained in our understanding of the economy. Time to challenge this stereotype, using scientific evidence.

There is a common belief that older people are more cautious about new technologies and are therefore less likely to use them. According to statistical studies, it is true that on average people over 60 use technology less frequently - but to assume that this is because they are less open to change is a prejudice.

A common perception is that “robots will take our jobs”. While for many, this is a very unsettling idea, others predict that the automation of work will solve one of our biggest challenges: the declining workforce in our ageing societies. The reality is, however, that both the worries and the hopes are mostly unfounded.

While migration can relieve short-term labour market pressures and keep population from declining, it can never be a sustainable long-term approach to managing population ageing. It is true that migrants who move for work are typically young and economically active, so they are indeed able to fill labour market gaps. It is therefore tempting to think that migration can solve many challenges of tomorrow’s societies: that it will counter population ageing, reverse labour force decline, and make social security systems more resilient.

Increased public spending on health can be good news, because it can point to the immense innovation which we have seen in medicine and in medical systems. It can mean that we are able to treat health issues that we formerly couldn’t - or that we are now aware of diseases about which we did not previously know. Still, rising health expenditure worries many.

Many people worry about ageing because they associate it with increasing frailty. Let us examine this notion from the perspective of research.

​When asked to point at someone who is ageing, many people will intuitively look around for a person over 60. Yet of course, everyone is ageing. We often think of different generations almost as different species. This narrative is amplified by media who popularise ever-present labels, like “boomers”, generations X, Y, Z, and so on. This view amplifies differences between younger and older people, when of course individuals differ, for example, in their distinct needs, priorities and political preferences.