The Biological Clock is ticking: Can Experience Save Sri Lanka’s future?
by J.A.A.S.Ranasinghe Productivity Specialist and Management Consultant (The writer can be contacted at rathula49@gmail.com) {An ageing population is not merely a demographic challenge; it is a strategic national resource—provided we know how to harness its accumulated experience.} “Sri Lanka’s latest Population Census has delivered not only a demographic warning but also uncovered one of the […]
The recent Population Census in Sri Lanka has not only highlighted a demographic challenge but also revealed one of the country's greatest untapped economic assets—the accumulated experience of its older citizens. The country has traditionally viewed its aging population as a fiscal and social burden, overlooking one of the most valuable strategic assets it possesses.
Policymakers must shift their focus from merely managing an aging society to transforming it into a knowledge-rich, experience-driven economy where each year of accumulated wisdom becomes an investment in the nation's future.
The experts emphasized that Sri Lanka is entering a new demographic era characterized by an aging population as a growing fiscal burden, increased healthcare expenditure, a shrinking labor force, declining tax base, and lower economic growth. The challenge is to recognize, organize, and productively deploy this "Experience Capital" to sustain economic and social development in the country.
My contention is that the aging population should be viewed as a national asset, contributing to economic development with the expertise they possess, rather than merely a burden to the country. Instead of focusing on the conflict between generations, we must adopt a constructive approach to harness the experience of older citizens for the greater good of the country.
It is essential to recognize that every country has four forms of capital: Financial Capital, Physical Capital, Human Capital, and Experience Capital. Sri Lanka has never measured, managed, or utilized the fourth type of capital—the Experience Capital. Retired professionals from various fields, such as Doctors, Engineers, Administrators, Academics, Scientists, Military Officers, Teachers, Technicians, Craftsmen, must not be seen as passive observers but as catalysts of change and contributors to the nation's development.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.