Global Population Ageing, the Sixth Kondratieff Wave, and the Global Financial System

Authors: Grinin, Leonid; Korotayev, Andrey
Almanac: Globalistics and globalization studiesGlobal Transformations and Global Future.

The present paper analyzes some aspects of the population ageing and its im-portant consequences for particular societies and the whole world. Basing on this analysis, we can draw a conclusion that the future technological breakthrough is likely to take place in the 2030s (which we define as the final phase of the Cybernetic Revolution). In the 2020s – 2030s we will expect the upswing of the forthcoming sixth Kondratieff wave, which will introduce the sixth technological paradigm (system). All those revolutionary technological changes will be connected, first of all, with breakthroughs in medicine and related technologies. We also present our ideas about the financial instruments that can help to solve the problem of pension provision for an increasing elderly population in the developed countries. We think that a more purposeful use of pension funds' assets together with an allocation (with necessary guarantees) of the latter into education and upgrading skills of young people in developing countries, perhaps, can partially solve the indicated problem in the developed states.

Keywords: the sixth Kondratieff wave, the sixth technological paradigm, Cybernetic Revolution, population ageing, world finance, pension funds, human capital, developed countries, developing countries.