ABSTRACT
This chapter discusses measures for dealing with support of the aged in both demographic aging and the construction of welfare-state, the West had the earliest experiences, offering the rest of the world both models and cautionary tales. Population aging in the Western world varied from country to country but collectively took a relatively long time when compared with the experiences of other regions. Demographic aging came comparatively late in Russia, but the state and some businesses made modest contributions to the support of the aged. Economists looking for a region that might negotiate the last part of the demographic transition, population aging, in a way that avoided some of the problems of Europe, North America, and Japan looked to Latin America. Economists working under the auspices of the World Bank evaluated turn-of-the-century pension reforms, economic behavior across the life course, and particularly savings, and they urged the country to take advantage of the ’demographic bonus’.
