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AUSTRALIA

Elders' wisdom could save us

  • 08 August 2011

Why do we consider it a joy to look after infants and children, but a burden to care for the elderly? 

A degree of self-examination along these lines could provide a useful backdrop for community discussion that will follow today's announcement by Prime Minster Julia Gillard of sweeping changes in the way aged care is organised and funded.

The power of imagination allows us to look at the face of an older person and cherish the child that is obscured by the frail body and/or mind. Alternatively we can look at age as a value in itself, almost a tradable commodity. Many non-western cultures refer to the aged as elders and regard them as a vital source of wisdom that sustains their societies.

Gillard is right to stress that the increasing aged population must not be seen as a 'problem' requiring a 'solution'. But it would be better if she was able to go further and lead us to understand that our elders are an asset. In other words, what is derided as 'grey power' could contribute to our overall economic and spiritual prosperity as much as our mineral wealth. 

She refers to the two generations of retired — baby boomers and many of their parents — as if the cost of supporting them is a double burden rather than a double investment. Clearly that is the way most of us read the numbers as well.

Yet if we were able to convince ourselves that the larger non-working population is in reality a bank of wisdom, we would have a positive incentive to work harder to support older Australians. 

This may sound far-fetched, but it is arguable that a society will benefit economically if it is fuelled in greater measure by the wisdom of its elders. 

If we ask ourselves why society doesn't learn from its mistakes, the answer could be that we listen to our youth and not our elders. For instance, it looks as if we could be heading into a new global financial crisis (GFC). The reason is partly our failure to learn from the mistakes that caused the GFC three years ago. 

Many of the decisions on the financial markets are made by financial traders who are in their 20s. If they valued and sought the advice of their elders — including those with memories of the Great Depression — it is possible that a further GFC could be averted. This may seem a

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