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They are also changing education. A German study found that people who remain at work after the normal retirement age manage to slow the cognitive decline associated with old age and have a cognitive capacity of someone a year and a half younger. The retirement age in many rich countries is still below the age to which many people want to work. Public policy makes retirement a cliff edge, when it should be a ramp. The rise of the yold will be a boon to themselves, to economies and to societies. Societies should be better off because public spending on health and pensions should be lower than expected, as people work longer and need less medical care. But for all this to happen, three big things will have to change, under pressure from the yold themselves. By continuing to work, and staying socially engaged, the boomers, in their new guise as the young old, will change the world, as they have done several times before at different stages of their lives. Many companies discriminate against older workers by offering training only to younger ones, or by limiting part-time employment and job-sharing.

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