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Author: ziggy29 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78705  
Subject: Re: Bolivia lowers retirement age from 65 to 58 Date: 12/14/2010 10:17 AM
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If the Bolivian situation is like much of the rest of the developed world, we have two competing forces at work here.

One is demographics and rising life expectancy which seem to call for a higher retirement age.

The other is high unemployment and rampant age discrimination in employment and hiring, which seems to call for a lower retirement age in order to shrink the size of the job-seeking population. I believe at least part of the justification for Social Security in the 1930s was to shrink the size of the workforce by getting everyone over 65 after it (potentially freeing their jobs for other unemployeds).

Not sure how these two diametrically opposed economic and demographic forces can be reconciled in any sane economic manner. They are both compelling national interests, IMO, that happen to be at odds with each other.

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