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Unformatted text preview: We are talking about a very large group of people with a very large amount of money to spend. Most are still working and they are earning substantial incomes that provide them with significant amounts of discretionary spending. Many can purchase luxury autos, beach houses, hot tubs, vacations, landscape services, a college education for their children and grandchildren, and afford the time to play golf. All this spending is, and has been, a boon to the current economy. But, what happens when they get older and begin to retire? Social Security? Medicare? Lower incomes and thus tax revenues? Home building? There are, and will probably be more of them, and fewer of you. They will live longer due to 5 advances in medical technology. How will we sustain our future economy? Why understand economics?...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10