Home /Regions /Asia /Rethinking Elder Care in the Impact Economy

A recent article in the New York Times draws our attention to an alarming aspect of our social fabric: the rising costs of long-term care. This issue is a microcosm of a broader systemic inadequacy in our current social, financial, and political frameworks. It highlights the urgent need for radical new thinking and methodologies, especially from the perspective of the impact economy. While this editorial primarily focuses on the United States, the challenges of elder care are indeed a global phenomenon. Developed nations across Europe are also facing the pressures of an aging population, albeit with different healthcare and social care frameworks. Countries like Japan, with the world’s highest proportion of elderly citizens, are at the forefront of innovating elder care, integrating technology and social reform to meet the challenge. Even nations with more comprehensive safety nets are finding that their systems are strained under the weight of demographic changes and budgetary constraints. This underscores the universal need for sustainable solutions in elder care, solutions that can be adapted to various cultural and policy contexts. The impact economy's approach to elder care, with its emphasis on social, environmental, and financial sustainability, offers valuable insights that transcend borders. It invites a global dialogue on sharing best practices, fostering international collaborations, and scaling effective models that could benefit societies worldwide.