Longer life expectancy and low fertility rates increase the share of elderly among the population of most industrialized countries. This demographic change affects the economy and the society and is most likely to proceed in the future. Therefore, policy makers and families need to be aware of...

"As an economist and a public intellectual, Gary Becker was a giant. He won a Nobel Prize for his groundbreaking work in human capital, the John Bates Clark Medal as the best American economist under 40, and the Presidential Medal of Freedom for his contributions to public life and welfare. He...