Boom, Bust and Echo

Written in 1996 by David K. Foot, the book provides a look at the future through demographics.  It’s been sitting on a shelf collecting dust since first reading it around the same time.
Demography is the study of human populations.  The author claims it affects two thirds of everything.  For example, those same active individuals known as boomers  that both played and watched tennis in the 70’s are a little more likely to be found around the golf course today.  Their consumption of beer is down and wine is skyrocketing.  The demands on healthcare grow and it’s normal to find a lineup when you pick-up your medications even though there are more pharmacies today.
I’ve seen different references but in the book they indicate that for Canada the Boomers are those born from 1947 through 1966.  A subset is the late boomers known as Generation X.  If you are around 50 you are one.  Being at the back of the line made it a tougher road to hoe at least initially.  Many of today’s “boomerang” generation (those that return to live with their parents) had a lot in common with Generation X.  The primary difference is there was no booming oil and gas industry in Alberta to go to as there is today.
On Canada Pension and Old Age Security the author predicted, “Reforms might include raising the age of eligibility, reducing payouts, cutting off high-income recipients and increasing contributions.”   On trade it said, “Canada is now in a position to benefit from growing demand for manufactured goods in southeast Asia.  On retail it said, “retailers would benefit from improving their service and customer service levels rather than trying to compete on price.”  Again, the book was printed in 1996.  Pretty impressive.
2012 was the year that the first wave of the boomers began to turn 65 with another 2 decades of the bump moving through the pipe.  If you think Canada is getting greyer and more mature now just wait.
As much as I’m loathe to make predictions, the recent lifting of the one child only policy in China will likely mean  a few more diapers will be required just as will changes to Canada’s delivery of programs to accommodate a more mature population.