The ‘principle of scarcity’, pension policy and growth

Bibliographic Data

ID12230137
AuthorsMassimo Pivetti (a Facoltà di Giurisprudenza , Università di Roma ‘La Sapienza’ , Italy, corresponding author)
Year2006
Volume18
Issue3
Pages379-390
Publication date2006-07-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueReview of Political Economy (JOURNAL)
Journal identifiersISSN: 0953-8259 • E-ISSN: 1465-3982
PublisherTaylor & Francis (PUBLISHER • GB)
DOI10.1080/09538250600797875
OpenAlexW2054610133
LanguageEN
Citations received6
References cited14

The picture one is bound to form of the whole question of pensions depends on whether one views it through the lens of the ‘principle of scarcity’ or through that of the ‘principle of the underutilisation of productive resources in a market economy.’ A generous PAYG system of the defined-benefit type is here defended as the best retirement system one can conceive of in light of the principle of underutilised resources. The nature of the main obstacles that the implementation of such a system is likely to encounter in the present set of historical conditions is outlined in the final part of the paper

Economics · Microeconomics · Neoclassical economics · Pension · Pension system · Scarcity · Set (abstract data type · Economic Theory and Policy · Financial Literacy, Pension, Retirement Analysis · Global Health Care Issues · Finance

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