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> The social security system was crippled 5 decades ago, … Check the history of the Rentenversicherung: It was basically ruined by inflation caused by the Firs
by cschwarm 14y ago
> The social security system was crippled 5 decades ago, …
Check the history of the Rentenversicherung: It was basically ruined by inflation caused by the First World War. [1]
[1] http://de.wikipedia.org/wiki/Gesetzliche_Rentenversicherung_%28Deutschland%29#Geschichte http://de.wikipedia.org/wiki/Gesetzliche_Rentenversicherung_...
- woodpanel 14y agoSorry, but I have to disagree. WW1 was rather one of the many causes that made social-security not working after WW2. The other big one being, well, WW2. However, changing the financial scheme of social security away from a capital-backed one towards a "generational accounting" one IS what makes it not working today (unless the working population keeps it's proportional size in relation to the retirees).