Economics of Ageing: A Study Based on Kerala

The proportion of population in the older ages in India is increasing very fast as elsewhere in the world. Of the states in India the population of Kerala is ageing faster than the others with below replacement fertility and very low mortality. This situation increases the need for improved information on demographic ageing and analysis of the same, the knowledge of which is essential to assist policy makers in formulating and evaluating goals and programmes. Economics of ageing essentially relates to the financial requirement for the care of the aged or the available finance to take care of the elderly or how the economic status of the elderly is likely to affect the different aspects of their life in the household. Most of the studies dealing with economics of ageing relate to the first two aspects and do not really focus on the third. However, the third aspect is very important from the point of view of the elderly as their happiness, their dignity and their self respect are apparently influenced by their financial status. In poor societies where the majority are engaged in the informal sector including agricultural and related activities, many older persons will not have any financial support or care except from their own underprivileged families. Such a situation can create a great deal of mental strain for both the elderly and the care giver as the latter will have to stretch the available resources to cover the needs of the elderly, besides their own needs and that of their children.This book examines how the possession of assets or the lack of it affects the health of the elderly and their involvement in household decision making and household activities. As many studies are not undertaken in this area, it is hoped that this book will lead to some discussions on the subject and further studies of similar nature would be carried out, to reveal the role which money plays in the lives of the elderly in the course of their ageing with dignity and in getting a feeling of belonging to the households of which they are a part of.