This study examines claims that ageing populations will create serious economic problems for various nations. It examines the question in large part through the eyes of researchers and legislators in three target countries: Australia, Japan, and the United States. These countries were chosen because of similar states of economic development and because all were experiencing a rapid ageing of their populations. A comprehensive overview is provided of the economic issues related to ageing populations. Several aspects are explored in more depth. After a brief review of the phenomenon of demographic ageing, the authors give a summary of the major economic programmes offered to the aged. Extensive research is used to evaluate the concept of dependency ratios and to predict the impact on younger and older persons of future economic and demographic growth. This discussion then provides the basis for a review of evolving retirement policies in the three countries. Special attention is given to the way pension plans have been designed, especially early and mandatory retirement policies. An assessment of the adequacy of retirement income follows. The final three chapters are devoted to policy options for the future, given trends in demographic ageing. Social scientists and economists will be most interested in this study.