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Joel's avatar

From an economically liberal standpoint, your conclusion doesn't seem justified. A third option – the one occurring as we speak – is the importation of millions of young workers ("lumps of labor" in your terms) in order to prop up the tottering system. I say "from an economically liberal standpoint" because it would seem that "growth" would be a canonical way out of the predicament. Also, average male life expectancy in the U.S. is about 73 for men, and it is declining.

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Joel's avatar

Otto Von Bismarck strikes again. He invented this idea of "retirement," paying old people (over 70) to leave the economy so young people could work instead.

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