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My Analysis On “Europe’s Forced Retirees Not Going to Go Gently”
By admin | February 21, 2012
Underlying most mandatory retirement schemes is the false premise of a limited pool of employment law advice. Replacement of the old by the young may work for the betterment of an individual company but it is a serious impediment to national prosperity.
Economically, the country is suffering the results of this misconception. In 2000 the employment rate was 64.4%. For 2010, the rate declined to 58.5%. If we had maintained the 2000 rate there would be an additional 9 million people in employment. Putting this group back to work, even at an annual average of $50,000, adds 45 trillion dollars to our economy.
The trick of course is to expand the availability of desirable goods and services that either our population would buy or which we could export. Government pump priming will not do this. The new ideas and services will .come essentially from small innovative companies.
Instead of redistribution, Obama should try encouraging the old American dream of everyone becoming a Horatio Alger. (So how many of you even remember the name?)
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