Five: Time and money in later life

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Economic issues form a key dimension for both globalization and social gerontology. Drawing on data from a range of international studies, this chapter critically assesses the extent to which we identify a global convergence around labour market participation rates, retirement age, financial circumstances and pension policies. It also looks at the impact of globalization on the employment and financial circumstances of older people. The analyses reveal that, although new temporalities of ageing and later life have opened up around work and retirement, there is little evidence of an emerging global economic time-space of ageing and later life. Globalization also does not seem to have much of a direct impact on the economic circumstances of older people. International and regional variations in work and income point to the importance of non-global political and economic structures for older people.

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