Economist's textbook focuses on economics of aging

The Cornell Books column notes a selection of current and recent published books by faculty members.

As the demographic tsunami known as the baby boom generation approaches age 65, long-delayed and painful changes in Social Security and Medicare policies must be made to ensure the long-term financial stability of these vital social programs. But which changes and who will pay are unresolved and politically charged questions.

Burkhauser

A new textbook, The Economics of an Aging Society (Blackwell Publishing, 2004), co-authored by Richard V. Burkhauser, the Sarah Gibson Blanding Professor of Policy Analysis in the College of Human Ecology at Cornell, goes beyond the political rhetoric of change by providing a detailed presentation of the demographic forces that make changes inevitable and a method for evaluating how the changes will impact the employment and economic well-being of current and future older populations.

The text has a strong policy focus based on demographic and economic analyses and covers population aging, income of the elderly, economic well-being of older Americans, economics of retirement and old age, retirement policies and pension plans, social security and disability programs, health and long-term care for older persons as well as an international picture on the consequences of aging.

Each chapter of the 362-page text begins with learning objectives and a chapter outline and ends with discussion questions, detailed endnotes and a list of references. The book, which includes almost 50 figures and 40 tables, also has a detailed Web page where the authors offer numerous online supplements to text material, including links, resources, syllabi and a feedback section.

"As longtime players in the world of federal retirement, disability and health programs that affect older Americans, my co-authors and I attempt to present the policy issues surrounding these programs in a factual context and to offer the principles of economic analysis that readers can use to make choices for themselves," said Burkhauser.

The co-authors are Robert L. Clark, North Carolina State University; Marilyn Moon, American Institutes for Research; Joseph F. Quinn, Boston College; and Timothy M. Smeeding, Syracuse University.

-- Susan S. Lang