Traces the decline in United States productivity growth since the late 1960's. Suggests that the failure to innovate, changing demographics, and disruptions to the economy (including oil price increases and inflation) are major contributors to the decline. Argues that American living standards will stagnate unless this trend is reversed. (TW)

As of 1985 the population of persons aged 65 or over in the United States numbered 28.5 million. By the year 2000, persons in the 65+ age group are expected to represent 13 percent of the population, and this percentage may climb to 21.2 percent by 2030. In 1985, older men were twice as likely to be married as older women. Sixty-seven percent of…