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And if I remember correctly, the primary motive for the Prussian pension system when it was introduced was to reduce youth unemployment by getting the elderly o
by stkdump 4y ago
And if I remember correctly, the primary motive for the Prussian pension system when it was introduced was to reduce youth unemployment by getting the elderly out of the way.
I think still today that is a deciding factor, as some economies have high unemployment and there retirement can be cheaper and better than caring for unemployed people at all ages. And other economies have high employment and would even benefit economically from a larger workforce.
- bobthepanda 4y agoThis trend is starting to reverse; in some low birthrate economies like South Korea and Japan, we are seeing dual effects of both labor shortage and declining health of old people due to declining social pension payments and lack of socialization in old age.