Living Standard, Living Level and Economic Wellbeing of Older Persons: Similarity and Differences in Measuring These Concepts

Benjamin Chan Yin Fah


The number of older persons is increasing throughout the world and the consequences of ageing population; specifically in economics of aging was deserved to be being attention. The main issue in economics of aging is the way in indentifying the economically vulnerable group and how the allocate government’s limited resources to the needed group. However, various methods, either using objective approach (income, consumption, net flow, net worth) or subjective approach (self-rated income adequacy, perceived financial satisfaction) were employed to identify the vulnerable group. This paper aims to link concept of economic status, economic well being with living level and living standard. It recommended that those who want to study the concept of economic well being should start from the understanding of living level and living standard. Key words: Older person; living level and living standardRésumé: Le nombre de personnes âgées est en augmentation partout dans le monde et les conséquences du vieillissement de la population, en particulier dans l'économie du vieillissement, méritaient d'être suivies de près. La question principale dans l'économie du vieillissement est la façon d'identifier le groupe économiquement vulnérable et comment allouer les ressources limitées du gouvernement au groupe de besoin. Or, des méthodes diverses, soit en utilisant l'approche objective (le revenu, la consommation, le flux net, la valeur nette) ou l'approche subjective (l'adéquation du revenu auto-évalué, la satisfaction financière perçue) ont été utilisées pour identifier les groupes vulnérables. Ce document vise à relier la notion de statut économique, du bien-être économique avec le niveau de vie et le standard vie. Il a recommandé que ceux qui voulaient étudier la notion de bien-être économique devraient commencer par la compréhension du niveau de vie et du standard de vie.Mots-clés: personnes âgées, standard de vie et niveau de vie

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