Throughout history, the elderly were supported by families and marriage before pensions became widespread. Industrialization led to an increase in private annuities, resembling disability insurance, gaining popularity alongside pensions. Socialism further boosted the popularity of pensions, replacing family support for the elderly. The combination of unfunded pensions and unfavorable demographics, where the elderly make up a larger share of the global population, now poses a threat of governments collapsing worldwide. The future of retirement is in serious jeopardy. Central banks find themselves trapped, unable to reverse their course without admitting their grave mistakes.
Delve into the origin of pensions and how their mismanagement has been a destructive force in various civilizations throughout history. This 87-page report also covers the contributing factors to the crisis, current fiscal policies, and why your 401(k) may face risks.
More courses from this author: Martin Armstrong
Course Features
- Lectures 1
- Quizzes 0
- Duration 10 weeks
- Skill level All levels
- Language English
- Students 0
- Assessments Yes
