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the United States, the ratio of workers to retired people the dependency ratio was 45:1 in 19417 By 1970, this had dropped to 3:1, then is estimated to fall to 27:1 by 2009, and it is expected to hit 16:1 by 2050 unless policies change In Germany the current ratio of 23:1 is expected to fall to 13:1 by 20308 In Japan, a steeper falloff occurred: In 1990, the country had 58 workers per retiree, but this dropped to 39:1 in 2000 and is heading to 21:1 by 2025 Since 2002, the United States has experienced reduced private savings and a growing scal (government) de cit along with a growing current account de cit, re ecting increased borrowing from abroad US imports of goods and services continue to outstrip US exports by a wide margin, leaving US households and rms to borrow the difference on international capital markets Meanwhile the US federal scal de cit, augmented by ambitious military adventures abroad, registered at 3 percent of 2007 GDP Because private households aren t saving, and the government isn t saving, the question becomes, who is going to cover the costs of retirement for an increasing number of Americans The 2007 Social Security Trustees Report already raised the concern that this US bene ts program will face massive annual de cits in as little as a decade if no reforms are made9 Fortunately the recent metamorphosis of the developing world from a net borrower to a net lender has eased the industrial aging boom The excess savings of EMs have been held in foreign currency reserves, often invested in US treasuries But this bailout cannot last forever In the future, cross-border savings ows may not ll such de cits for two reasons: First, the world s current supersavers represent only a small piece of the global nancial pie In China for example, nancial assets have been growing extraordinarily rapidly (145 percent compounded annual rate over the past decade), but its share of global nancial assets is still only 4 percent10 Second, many emerging markets are aging, too Between 2006 and 2030, the number of older people in less developed countries is projected to increase by 140 percent as compared to an increase of 51 percent in more developed countries11 China is expected to have 265 million 65-year-olds by 2020, partially the result of the one-child policy, implemented in 197912 Russia s.



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where ; = ; g ,g denotes the dual pairing between g and g Once again, the (negative of the) derivative of the map g Ad# at g = e is a linear transformation g

ad# : g End g , such that for any X g, (ad# )(X ) is the map (ad# )(X )(X ); Y = X ; (ad)(X )(Y ) , X g , Y g (B14)

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Clearly, Ad# = exp( ad# X ) If we introduce a basis in g and represent Ad g by a mag trix in this basis, then, in terms of the dual basis in g , Ad# is represented by the g transposed inverse of this matrix Under the coadjoint action, the vector space g splits into a union of disjoint coadjoint orbits OX = {Ad# (X )| g G} g (B15)

working-age population is expected to shrink 34 percent by 2050, and the country s population is already decreasing by 700,000 people per year13 These nations will have to use their surpluses to deal with their own pension issues; they will not be able to support US overspending forever Immigration could partially offset the problem of decreasing populations and provide an injection of fresh economic activity It can also help meet the demand for health care providers, assisted-living facility workers, and other professions uniquely required by G7 aging populations With no changes in the current restrictive immigration policy, the G7 will soon face unsavory pension reform decisions, including delaying formal retirement ages or reducing transfer payments, given increased life expectancies

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According to the Kirillov Souriau Kostant theory (see [226]), each coadjoint orbit carries a natural symplectic structure In addition, is G-invariant This implies in particular that the orbit is of even dimension and carries a natural G-invariant (Liouville) measure Therefore, a coadjoint orbit is a natural candidate for realizing the phase space of a classical system and hence a starting point for a quantization procedure Semisimple Lie groups have several interesting decompositions In the sequel, we present three of them, the Cartan, the Iwasawa, and the Gauss decompositions

z (x)

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