Saturday, November 26, 2005

Good discussion on the bogus case for pension reform :

The key point is that, like everyone who trots out this line, Mr Hutton is ignoring an important fact.

On the DWP?s figures, male life expectancy at 65 has risen 58% since 1951. But productivity - GDP per head ? has risen much faster than this. It?s more than trebled*.

In theory, this massive rise in productivity should have allowed for a big increase in our leisure time ? for either shorter working weeks or longer retirement.

Stumbling and Mumbling: Hutton, Keynes and pensions

No comments: