Disproving Beliefs About the Economy and Aging – Christopher Farrell, The New York Times.

Older people are more likely to continue working than in the past. They’re as productive as younger workers. And they don’t block young people from the job market.

As to the last point, it also pertains to immigration:

The notion that the job market is a zero sum game — more jobs for one group translates into fewer jobs for another group — is deeply ingrained. Economists call the belief that there are only so many jobs in an economy the “lump of labor fallacy.”

But the truth is that growth in the number of jobs for older people tends to run in parallel with gains for younger workers. “There isn’t a fixed number of jobs,” Ms. Carstensen said. “You grow the pie.”

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