ECO051 How the retirement of the Boomers will affect the economy (580 words)

Introduction

From psychedelic drugs and the birth of rock and roll in the sixties to the sexual revolution and female equality of the seventies through to the rapid up take of personal computers in the eighties, Australian ‘baby boomers’ have always caused waves. 

Now as they move into retirement, the groovy generation are about to flood our hospitals and age care facilities, beach our economy with falling demand and workforce shortages and dump Government revenue via a sharply reduced tax take.

So, who are these people?