Japan has now fewer productive workers per elderly person than most developed countries.
Japan has now fewer productive workers per elderly person than most developed countries.
Maybe, over the long run, we could change the expectation that elderly people can't be productive. Perhaps eliminating 20% of the workweek will allow people to maintain careers that are longer? The need to race towards retirement may lessen if we ease the burden of our weekly work schedule.
Having an older population is only a problem if want unskilled labor to remain cheap relative to it's social value. The whole world has seen from America that relying on an immigrant underclass creates too many negative externalities for the price saved, I doubt Japan will copy this plan, they will just bite the bullet, pay more, and then act surprised when NEETs decide to work.