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An ageing economy will be a slower and more unequal one—unless policy starts changing now
WARREN BUFFETT, who on May 3rd hosts the folksy extravaganza that is Berkshire Hathaway’s annual shareholders’ meeting, is an icon of American capitalism (see article). At 83, he also epitomises a striking demographic trend: for highly skilled people to go on working well into what was once thought to be old age. Across the rich world, well-educated people increasingly work longer than the less-skilled. Some 65% of American men aged 62-74 with a professional degree are in the workforce, compared with 32% of men with only a high-school certificate. In the European Union the pattern is similar./.../