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> It used to be that companies paid pensions. Yes, and what happens when the company paying your pension goes bankrupt? You're up sht creek. At least 401ks le
by klipt 2y ago
> It used to be that companies paid pensions.
Yes, and what happens when the company paying your pension goes bankrupt? You're up sht creek.
At least 401ks let you diversify across the entire stock market, much less risk of every company in the US (or world) going bankrupt simultaneously.
> So that of course leads to growth and demographics problems to keep the system working.
Let me tell you a secret: even in a communist country demographics still matter. If you have just 1 healthy adult caring for 4 aging grandparents, that's going to be tough in communism or capitalism. Money is just an abstraction, what matters is resources, which young healthy people are.
- Eddy_Viscosity2 2y ago> Let me tell you a secret: even in a communist country demographics still matter. At no point did I suggest otherwise. Regardless of the political system at play, physics says that continued exponential growth is not an option. So how do get to a system that works on with a plateaued population / economy?
- klipt 2y agoI think many systems can work with a plateau (but it will be less pleasant than the growth phase). Shrinking populations are much more unpleasant though, at least for the old people getting insufficient care. Maybe AI caregivers will help at some point.