Population aging is often perceived in a negative way, through concerns abo
ut public pensions, the demand for health care, the needs of older people f
or personal assistance, declining economic production, the accumulation of
social responsibilities in the "sandwich" generation, and divisions between
young and old. The purpose of this article is neither to confirm, nor to d
eny, these concerns. Rather, its purpose is to contextualize them in order
to arrive at a more balanced view. Three main conclusions are drawn: (i) mu
ltidimensional demographic analysis is required; (ii) the policy significan
ce of older people in the future may not be the same as their policy signif
icance today; and (iii) other factors need to be considered alongside demog
raphic factors in making policy choices.