Gray Dawn: How the Coming Age Wave Will Transform America--and the World

by Peter G. Peterson

There's an iceberg dead ahead. It's called global aging, and it threatens to bankrupt the great powers. As the populations of the world's leading economies age and shrink, we will face unprecedented political, economic, and moral challenges. But we are woefully unprepared. Now is the time to ring the alarm bell . . .

Genres: Politics, Nonfiction

320 pages, Paperback

First published January 1, 1999

Reviews

[Todd · Rating 1 out of 5]

Pete G. Peterson, who was a Wall Street billionaire and anti-entitlement crusader, presents here his generational inequity argument for cuts to Social Security and other government programs. Peterson, who was a Nixon cabinet member, used this book to repeat his Chicken Little fear mongering, blaming aging seniors for the nation's debt. He argues the cause is that our social insurance programs-Social Security, Medicare, and secondarily Medicaid-are out of control. What about the unfunded tax cuts and military spending (e.g. wars) that ballooned the deficit and busted the budget? Mr. Peterson doesn’t mention those. Peterson's solution, as part of his long-standing attack on America's social insurance programs, is to cut them. Sound familiar? Good, it probably should (that means we’re paying attention). Mitch McConnell and Paul Ryan were reading from the same playbook as Mr. Peterson.

[Per Hiero · Rating 4 out of 5]

I like to re-read Gray Dawn every 3-4 years and remind myself that demographics don't lie.

One needs only to look at the demographics of Europe to understand just how close they are to the abyss of Islamification. Peterson posited that France would be close to 40% muslim by 2025 or 2040, I misremember, and that this would transform the government of the country. The younger muslim population would not stand for taking care of the elderly European populations, and would destroy the modern European Socialist State in favor of a more Islamic government.

Denmark, Germany, and other states get similar analysis. Truly, demographics don't lie, and Peterson is on track to be proved right. The only variables he had not previously considered is the effect of the nationalist resurgence in the former East Block and Germanic states. These trends may save Europe yet, but they will need to be coupled with a significant increase in childbearing by Germanic and Scandinavian women to have a lasting effect.

The same demographic trends are progressing in America, and ultimately it will require similar cures.

[Art · Rating 4 out of 5]

The world's population is aging. Mr. Peterson points out that increased human longevity is both a blessing and a challenge to society and individuals. The author offers some solutions for the problems that will likely arise from this demographic shift.

[John · Rating 5 out of 5]

Yikes. Pretty scary how our liabilities for Social Security and especially Medicare are stacking up. This should be the subject of mandatory debate questions in every presidential debate.