Realistically productivity increased by leaps and bounds over the past few decades. If leaders can’t figure out how to take advantage of that instead of taking advantage of the people then they have no business leading a country.
The solution they are applying now is a dead end, literally. It doesn’t scale, the only place it leads to is people guaranteed to die “at work”.
And elephant in the room, people in their late 60s aren’t even close to productive compared to the younger employees and if you lose your job in your 50s or early 60s you’re condemned to a decade or 2 of being supported by the family if you’re lucky.
So a person in this position is a hidden “tax” on the tax payers in the family, or on the companies who still employ them, if any still have them at that age. Countries are better off just directly taxing the companies regardless of whether they hire 70 year olds. But that won’t happen.
5) Real wages went down, in general. The productivity pay gap has increased significantly. Take a formerly stable country which is a good indicator of the progression. [0]
Getting terminated at old age is already a huge problem made worse by delaying pension. And it will get even worse as families have to subsidize their elderly even more, making it even less likely to have more (or any) kids.
The current crop of leaders put the entire burden on average Joe. Companies are insulated, always one restructuring away from solving their problem.
And then we wonder why populists win everywhere...
The solution they are applying now is a dead end, literally. It doesn’t scale, the only place it leads to is people guaranteed to die “at work”.
And elephant in the room, people in their late 60s aren’t even close to productive compared to the younger employees and if you lose your job in your 50s or early 60s you’re condemned to a decade or 2 of being supported by the family if you’re lucky.
So a person in this position is a hidden “tax” on the tax payers in the family, or on the companies who still employ them, if any still have them at that age. Countries are better off just directly taxing the companies regardless of whether they hire 70 year olds. But that won’t happen.