Monograph III
ECONOMIC PROBLEMS OF THE SUPPORT OF RETIRED PERSONS
By
Sumner Slichter of Harvard UniversityTHIS memorandum deals with two basic questions: 1. Can the
economy afford the loss of production from retirement or the
financial burden of maintaining retired workers? 2. Does the business cycle substantially affect retirement practices?ECONOMIC PROBLEMS OF THE SUPPORT OF RETIRED PERSONS
Section 1 · CAN THE ECONOMY AFFORD THE LOSS
OF PRODUCTION OF ITS OLDER WORKERS
OR THE FINANCIAL BURDEN OF
SUPPORTING THEM?
In this analysis of whether the economy can afford the loss of
production of its older workers or the financial burden of supporting
them, "older workers" or "older persons" will arbitrarily be used to
mean workers or persons 65 years of age or more.The general problem of the support of the older worker breaks
down into various questions. These questions, which are discussed
on the following pages, are:| 1. | What determines the loss of production from retired workers? |
| 2. | What is the present loss of production from retired workers? |
| 3. | Why has the participation of older persons in the labor force decreased? |
| 4. | What is the real burden of supporting retired workers? |
| 5. | Does the rapid spread of private pension plans (such as union- negotiated plans) impose burdens on the community? |
| 6. | Does the financing of retirement by individual saving or by pension plans that involve saving accelerate the increase in the plant and equipment of the community? |
| 7. | Would the community be able to absorb the savings produced |
-151-
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Book title: Criteria for Retirement:A Report of a National Conference on Retirement of Older Workers Held at Arden House, Harriman Campus of Columbia University, January 24-26, 1952.
Contributors: Geneva A. Mathiasen - Author.
Publisher: Putnam.
Place of publication: New York.
Publication year: 1953.
Page number: 151.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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