In recent years, there was a huge increase in the demand for skill in China as the economy developed rapidly; however, the wages of young college graduates declined in real terms. Alarmed by the seeming over-supply of the young graduates, the Chinese government is considering policy measures to...

Motivated by Japan's recent poor economic performance and lack of young entrepreneurs, I build a model of how an aging workforce can negatively affect entrepreneurship activities. The model assumes: 1) young people are more likely to start a company (to be a risk taker); 2) to be successful, a...

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to entrepreneurship may decline with age, but business skills increase with experience in high level positions. Having too many older workers in society slows entrepreneurship. Older workers...