Most people know now that our population is ageing. Few understand how dramatic the change is. In 1950, just 7.7% of the population across the world’s wealthier nations was over 65. By 2050, it is projected to be more than 25%.

Even with changes to the retirement age, that means many fewer people working, more people drawing pensions, and many more people facing illnesses that become common as we age. Naturally, governments are rather concerned…