One of the strangest claims made in the debates about social insurance now roiling the world’s richest countries is the that government-funded defined-benefit pension programs (such as America’s Social Security system) are outmoded. These programs were fine, the argument goes, for the industrial economy of the Great Depression and the post-World War II generation, but they have become obsolete in today’s high-tech, networked, post-industrial economy.
One of the strangest claims made in the debates about social insurance now roiling the world’s richest countries is the that government-funded defined-benefit pension programs (such as America’s Social Security system) are outmoded. These programs were fine, the argument goes, for the industrial economy of the Great Depression and the post-World War II generation, but they have become obsolete in today’s high-tech, networked, post-industrial economy.