I have known not a few men who, after reaching the summits of business success, found themselves miserable on attaining retirement age. They were so exclusively engrossed in their day-to-day affairs that they had no time for friend-making. They may flatter themselves that their unrelaxing concentration on business constitutes patriotism of the highest order. They
The greatest danger to an adequate old-age security plan is rising prices. A rise of 2 per cent a year in prices would cut the purchasing power of pensions about 45 per cent in thirty years. The greatest danger of rising prices is from wages rising faster than output per man-hour. Whether the nation succeeds
In the beginning, there was no retirement. There were no old people. In the Stone Age, everyone was fully employed until age twenty, by which time nearly everyone was dead, usually of unnatural causes. Any early man who lived long enough to develop crow’s-feet was either worshiped or eaten as a sign of respect.
That everyone earning should contribute to Social Security is indisputable; that everyone, regardless of how he’s financially fixed at retirement age, should collect Social Security is indisputably wrong. As it was well put in Washington Monthly, Social Security’s a device for taking money from present workers to support retired ones. Fair enough. But by what