Generational Equity and the Reformulation of Retirement
AbstractStarting from an examination of the essential components of the long established 'contract' between the generations, the analysis moves on to examine public policy responses to the ageing of populations. Observing an international inclination to panic at the growth of old age and to restrict expenditure on services to older people, the paper addresses practical questions of political economy within the generational contract. On the one hand cuts to pensions and services are seen not to be economically inevitable. On the other it is argued that modern retirement breaches the compact between the generations and will need to be reformulated, enabling more people to earn income well beyond current retirement ages.
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Bibliographic InfoPaper provided by McMaster University in its series Social and Economic Dimensions of an Aging Population Research Papers with number 12.
Length: 17 pages
Date of creation: Feb 2000
Date of revision:
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retirement policy; generational equity;
Find related papers by JEL classification:
- J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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