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If wages kept up with productivity increases, there would be more than enough tax money to fund national pensions. Thanks for the insight, I’d never thought abo
by skhr0680 5y ago
If wages kept up with productivity increases, there would be more than enough tax money to fund national pensions. Thanks for the insight, I’d never thought about it that way
- lotsofpulp 5y agoLooking at only the amounts of money will not capture the problem. You can fund retirements all you want, but you cannot spin up labor to change bed pans and catheters and build infrastructure. Automation helps increase productivity per person and reduce the necessary working population to non working population ratio, but there is no natural law that automation can progress as quickly as it would need to in order to meet the expected quality of life in the face of declining proportions of working age populations.