The Political Future of Social Security in Aging Societies [Paperback]

Vincenzo Galasso (Author)

Book Description

Publication Date: August 29, 2008 | ISBN-10: 026257246X | ISBN-13: 978-0262572460

Doubts about the ability of industrialized countries to continue to provide a sufficient level of retirement benefits to a growing number of retirees has fueled much recent debate and inspired a variety of recommendations for reform. Few major reforms, however, have actually been implemented. In The Political Future of Social Security in Aging Societies, Vincenzo Galasso argues that the success of any reform proposals depends on political factors rather than economic theory. He offers a comparative analysis of the future political sustainability of social security in six countries with rapidly aging populations--France, Germany, Italy, Spain, the United Kingdom, and the United States. Using a quantitative approach, he finds that an aging population has political as well as economic effects: an older electorate will put pressure on politicians and policy-makers to maintain or even increase benefits.Galasso evaluates how each country's different political constraints shape its social security system, considering such country-specific factors as the proportion of retirees in the population, the redistributive feature of each system, and the existing retirement policy in each country. He concludes that an aging population will lead to more pension spending; yet postponing retirement mitigates the impact of this, and may be the only politically viable alternative for social security reform.

Editorial Reviews

Review

"I recommend the book for anyone interested in social security.... Galasso's presentation is outstanding with regard to the countries' institutional features, the demographic trends, and the history of social security. These narrative sections are comprehensive, detailed, and insightful." Henning Bohn Journal of Economic History

About the Author

Vincenzo Galasso is Associate Professor of Economics at Bocconi University. He is Research Affiliate at the Centre for Economic Policy Research (CEPR), Research Fellow at Innocenzo Gasparini Institute for Economic Research (IGIER), and Associate Editor of the European Journal of Political Economy.

Product Details

• Paperback: 280 pages
• Publisher: The MIT Press (August 29, 2008)
• Language: English
• ISBN-10: 026257246X
• ISBN-13: 978-0262572460
• Product Dimensions: 8.9 x 6 x 0.5 inches
• Shipping Weight: 12.6 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #3,317,345 in Books (See Top 100 in Books)

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