I actually read a right-leaning defense of pensions from the standpoint of inherent human difference once.
The argument was basically this - people vary based upon their ability to save/spend wisely, and this appears to be to a large extent immutable - it's not responsive to financial incentives. Therefore if we establish private tax-f…
I actually read a right-leaning defense of pensions from the standpoint of inherent human difference once.
The argument was basically this - people vary based upon their ability to save/spend wisely, and this appears to be to a large extent immutable - it's not responsive to financial incentives. Therefore if we establish private tax-free accounts for retirement we're basically rewarding people who don't need a reward - people who would have saved anyway (this has been proven by studies in Denmark) - and punishing those who are naturally financially impaired. Pensions, in contrast, work as a great leveler because asset management is ported over to professionals who know what they are doing, which allows those who are not financially savvy to have an adequate retirement.
I actually read a right-leaning defense of pensions from the standpoint of inherent human difference once.
The argument was basically this - people vary based upon their ability to save/spend wisely, and this appears to be to a large extent immutable - it's not responsive to financial incentives. Therefore if we establish private tax-free accounts for retirement we're basically rewarding people who don't need a reward - people who would have saved anyway (this has been proven by studies in Denmark) - and punishing those who are naturally financially impaired. Pensions, in contrast, work as a great leveler because asset management is ported over to professionals who know what they are doing, which allows those who are not financially savvy to have an adequate retirement.