Generational Equity and the Reformulation of Retirement

Malcolm L. Johnson

Social and Economic Dimensions of an Aging Population Research Papers from McMaster University

Abstract: Starting from an examination of the essential components of the long established 'contract' between the generations, the analysis moves on to examine public policy responses to the ageing of populations. Observing an international inclination to panic at the growth of old age and to restrict expenditure on services to older people, the paper addresses practical questions of political economy within the generational contract. On the one hand cuts to pensions and services are seen not to be economically inevitable. On the other it is argued that modern retirement breaches the compact between the generations and will need to be reformulated, enabling more people to earn income well beyond current retirement ages.

Keywords: retirement policy; generational equity (search for similar items in EconPapers)
JEL-codes: J18 J26 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2000-02
New Economics Papers: this item is included in nep-lab
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