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The Evolution of Retirement: An American Economic History, 1880-1990 (National Bureau of Economic Research Series on Long-Term Factors in Economic Dev)
 
 
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The Evolution of Retirement: An American Economic History, 1880-1990 (National Bureau of Economic Research Series on Long-Term Factors in Economic Dev) [Paperback]

Dora L. Costa (Author)

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Book Description

0226116093 978-0226116099 May 1, 2000 1
Winner of the 1998 Paul A. Samuelson Award given by TIAA-CREF, The Evolution of Retirement is the first comprehensive economic history of retirement in America. With life expectancies steadily increasing, the retirement rate of men over age 64 has risen drastically. Dora L. Costa looks at factors underlying this increase and shows the dramatic implications of her findings for both the general public and the U.S. government. Using statistical, and demographic concepts, Costa sheds light on such important topics as rising incomes and retirement, work and disease, the job prospects of older workers, living arrangements of the elderly, the development of a retirement lifestyle, and pensions and politics.

"[Costa's] major contribution is to show that, even without Social Security and Medicare, retirement would have expanded dramatically."—Robert J. Samuelson, New Republic

"An important book on a topic which has become popular with historians and is of major significance to politicians and economists."—Margaret Walsh, Business History

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From Booklist

In 1880, more than 75 percent of men over age 64 were working; in 1900, 65 percent; in 1950, 47 percent; and today, less than 20 percent. Costa, a Massachusetts Institute of Technology economics professor, explores American workers' retirement trends in a demanding but cogent history of retirement. Transfer payments--Union army pensions before social security was established--matter, but "over time, men's retirement decision has become less sensitive to increases or decreases in income." Today, more retirees can remain (at least relatively) independent of their families and can choose from a variety of relatively inexpensive leisure-time activities; retirement thus exerts a strong pull, rather than meaning the worker has been pushed out the door. Given current political concern about the future of the social security and medicare systems, Costa's analysis of how U.S. men's retirement behavior has changed over the past century--older women were still more concerned about widowhood than about retirement into the '70s--is timely. Mary Carroll --This text refers to the Hardcover edition.

About the Author

Dora L. Costa is professor of economics at the University of California, Los Angeles; associate director of the California Population Research Center; and a research associate and director of the Cohort Studies Working Group at the NBER.


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Inside This Book (learn more)
First Sentence:
Not only are more men living past age sixty-five in America today than ever before, but American men have also been abandoning the labor force at ever younger ages. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
army pension program, coresidence rates, coresidence decision, rising retirement rates, labor force nonparticipation, army sample, participation probit, expenditure elasticities, recreational expenditures, recreational goods, retirement probability, veteran sample, pension amount, chronic disease rates, early life conditions, average monthly pension, army pensions, examining surgeons, retirement status, lengthy retirement, omitted dummies, engel curves, care limitation, labor force participation rates, hours flexibility
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Bureau of the Census, Civil War, Year Fig, General Law, World War, Economic Security, New York, Pension Bureau, Department of Labor, Bureau of Labor Statistics, Massachusetts Commission, Cohort Aged Cohort Aged, National Health Interview Survey, Percentage of Native-Born Men, Bureau of Pensions, Variable Mean Est, Age Fig, Coney Island, Grand Army of the Republic, Great Britain, Isaac Rubinow, National Conference, Social Welfare, White House
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