EUROPEAN PAPERS ON THE NEW WELFARE

Pension Economics and the Four Pillars: Success in a Never-Ending Challenge

1. Introduction

Pensions economics is a complex field to work in, not least because of the many dimensions it covers beyond the already complex economic questions, particularly in the social and political sphere. The question as to how best (whatever this might mean in the discussion in question — and there has been a lot of confusion in the past over the target definitions) set up, finance and organize old-age security has been with us in its modern form for about a century, since Bismarck’s landmark introduction of the German social security schemes at the end of the 19th century.
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