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The Young Held To Ransom – A Public Choice Analysis Of The Uk State Pension System

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  • Philip Booth

Abstract

As populations age, it will become increasingly difficult to reform state pension systems. Reform will not be impossible, but the process of ‘buying off’ interest groups will be expensive. State pension provision must use the contributory principle combined with an accruals system – though private pension provision would be better still. There are serious flaws in the so‐called ‘citizens pension’ much promoted by interest groups in the UK.

Suggested Citation

  • Philip Booth, 2008. "The Young Held To Ransom – A Public Choice Analysis Of The Uk State Pension System," Economic Affairs, Wiley Blackwell, vol. 28(1), pages 4-10, March.
    • Handle: RePEc:bla:ecaffa:v:28:y:2008:i:1:p:4-10
    DOI: 10.1111/j.1468-0270.2008.00793.x
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    References listed on IDEAS

    as
    1. Cremer, Helmuth & Pestieau, Pierre, 2000. "Reforming our pension system: Is it a demographic, financial or political problem?," European Economic Review, Elsevier, vol. 44(4-6), pages 974-983, May.
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    3. Breyer, Friedrich & Craig, Ben, 1997. "Voting on social security: Evidence from OECD countries," European Journal of Political Economy, Elsevier, vol. 13(4), pages 705-724, December.
    4. Vincenzo Galasso, 2008. "The Political Future of Social Security in Aging Societies," MIT Press Books, The MIT Press, edition 1, volume 1, number 026257246x, December.
    5. repec:bla:scandj:v:102:y:2000:i:3:p:503-22 is not listed on IDEAS
    6. Browning, Edgar K, 1975. "Why the Social Insurance Budget Is Too Large in a Democracy," Economic Inquiry, Western Economic Association International, vol. 13(3), pages 373-388, September.
    7. Denis Kessler, 1996. "Preventing Conflicts Between Generations," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 21(4), pages 435-468, October.
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    Cited by:

    1. Niemietz, Kristian, 2015. "A patient approach: Putting the consumer at the heart of UK healthcare," IEA Discussion Papers 64, Institute of Economic Affairs (IEA).
    2. Niemietz, Kristian, 2017. "A piggy bank for healthcare: Why the health system needs old-age reserve funds," IEA Discussion Papers 83, Institute of Economic Affairs (IEA).

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