Silver economy is the system of

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stati ...

distribution Distribution may refer to: Mathematics *Distribution (mathematics), generalized functions used to formulate solutions of partial differential equations * Probability distribution, the probability of a particular value or value range of a vari ...

and

consumption Consumption may refer to: *Resource consumption *Tuberculosis, an infectious disease, historically * Consumption (ecology), receipt of energy by consuming other organisms * Consumption (economics), the purchasing of newly produced goods for curren ...

of goods and services aimed at using the purchasing potential of

older Older is the comparative form of "old". It may also refer to: Music: * ''Older'' (album), the third studio album from George Michael (released in 1996) ** "Older" (George Michael song) * "Older", a song on the 1999 album '' Long Tall Weekend'' ...

and ageing people and satisfying their consumption, living and health needs. The silver economy is analyzed in the field of

social gerontology Gerontology ( ) is the study of the social, Culture, cultural, Psychology, psychological, cognitive, and Biology, biological aspects of aging. The word was coined by Ilya Ilyich Mechnikov in 1903, from the Ancient Greek, Greek , ''geron'', "ol ...

not as an existing

economic system An economic system, or economic order, is a system of Production (economics), production, resource allocation and Distribution (economics), distribution of goods and services within a society or a given geographic area. It includes the combinati ...

but as an instrument of ageing policy and the political idea of forming a potential, needs-oriented economic system for the

aging population Population ageing is an increasing median age in a population because of declining fertility rates and rising life expectancy. Most countries have rising life expectancy and an ageing population, trends that emerged first in developed countries b ...

. Its main element is

gerontechnology Gerontechnology is an inter- and multidisciplinary academic and professional field combining gerontology and technology. Sustainability of an aging society depends upon our effectiveness in creating technological environments, including assistive ...

as a new scientific, research and implementation paradigm.

History

The phrase "silver economy" is sometimes used interchangeably with the term "silver market" (the “ageing marketplace” or the “mature market”), which is a narrower concept. The wording "silver market" was created in the 1970s in Japan in the context of increasing of the availability of facilities for seniors. Silver market includes, among others, good, values and services for affluent older people; special solutions in trade between operators, allowing adjustments to aging workforce; ideas of

universal design Universal design is the design of buildings, products or environments to make them accessible to people, regardless of age, disability or other factors. It addresses common barriers to participation by creating things that can be used by the ma ...

and

transgenerational design Transgenerational design is the practice of making products and environments compatible with those physical and sensory impairments associated with human aging and which limit major activities of daily living. The term ''transgenerational design'' ...

that aim is to adapt goods and services to people of different ages ("age-friendly"), physical condition and cognitive abilities, which may result in improved

social integration Social integration is the process during which newcomers or minorities are incorporated into the social structure of the host society. Social integration, together with economic integration and identity integration, are three main dimensions of ...

. The silver economy is not a single sector, but rather a collection of products and services from many existing

economic sectors One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the ...

, including

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...

financial sector Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...

housing Housing, or more generally, living spaces, refers to the construction and assigned usage of houses or buildings individually or collectively, for the purpose of shelter. Housing ensures that members of society have a place to live, whether it ...

transport Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, an ...

energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat a ...

tourism Tourism is travel for pleasure or business; also the theory and practice of touring (disambiguation), touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tour (disambiguation), tours. Th ...

culture Culture () is an umbrella term which encompasses the social behavior, institutions, and norms found in human societies, as well as the knowledge, beliefs, arts, laws, customs, capabilities, and habits of the individuals in these groups.Tyl ...

infrastructure Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...

and local services, and

long-term care Long-term care (LTC) is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods. Long-term care is focused on individualized and ...

.Klimczuk, Andrzej
"Comparative Analysis of National and Regional Models of the Silver Economy in the European Union"
''International Journal of Ageing and Later Life'' 2/2016, s. 31-59.

References

{{reflist Economies Old age Gerontology