EUROPEAN PAPERS ON THE NEW WELFARE

The Generational Impact Statement: An Idea Whose Time Has Come?

1. Introduction

Every industrial country is either considering or in the process of implementing major reforms to the web of pension, healthcare and social service programs for the aged sometimes called the ‘generational contract’. In the 1960s and 1970s, policy makers could reasonably assume that any sacrifices they imposed on younger and future generations in the name of dependent elders would be more than offset by rising incomes.
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