Karl Frederick
06-02-2011, 01:11 PM
The following is an excerpt from an article by David Korten at <!--><xml> <o:OfficeDocumentSettings> <o:RelyOnVML/> <o:AllowPNG/> <o:TargetScreenSize>1024x768</o:TargetScreenSize> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> <w:DontGrowAutofit/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" LatentStyleCount="156"> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> <![endif]--> https://www.commondreams.org/view/2011/06/01-2
For a society, retirement is inherently an intergenerational contract between retirees and working adults—much like the U.S. Social Security program, in which working people agree to commit a portion of their labor to providing for the elder care needs of those who nurtured them during their childhood. They expect the next generation of youth will likewise care for them in turn.
The threat facing future retirees is not insufficient money—which government can easily create with an accounting entry—it’s demographics (https://www.yesmagazine.org/issues/respecting-elders-becoming-elders/1285). In 1960, there were five working people per retiree. Because of longer life spans and the greater percentage of people reaching retirement age, that ratio was 3.3 to 1 in 2004. Unless the retirement age changes dramatically, it will be down to 2 to 1 by 2040.
Those of working age best secure their elder years by investing in the productivity of those who will follow them—by investing in the education, technology, and infrastructure required for the next generation of workers to provide for their own future nutrition, shelter, health care, and other essentials, while doing the same for those who can no longer provide for themselves.
Wall Street financial scams and phantom wealth financial assets (https://www.yesmagazine.org/blogs/david-korten/7-ways-to-stop-wall-streets-con-game) will not feed us or provide us with essential shelter and health care. We had a system of institutions that effectively met our need for the basic financial services required by a real wealth economy—until Wall Street dismantled them. We can rebuild them.
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David Korten (livingeconomiesforum.org (https://livingeconomiesforum.org/)) is the author of [I]Agenda for a New Economy (https://store.yesmagazine.org/other-products/agenda-for-new-economy-2nd-edition), The Great Turning: From Empire to Earth Community (https://store.yesmagazine.org/other-products/the-great-turning-from-empire-to-earth-community), and the international best seller When Corporations Rule the World (https://store.yesmagazine.org/other-products/when-corporations-rule-the-world). He is board chair of YES! Magazine (https://www.yesmagazine.org/) and co-chair of the New Economy Working Group (https://neweconomyworkinggroup.org/). This Agenda for a New Economy blog series (https://www.yesmagazine.org/blogs/david-korten/agenda-for-a-new-economy) is co-sponsored by CSRwire.com (https://www.csrwire.com/) and yesmagazine.org (https://www.yesmagazine.org/front-page) based on excerpts from Agenda for a New Economy, 2nd edition.
(https://www.commondreams.org/view/2011/06/01-2)
For a society, retirement is inherently an intergenerational contract between retirees and working adults—much like the U.S. Social Security program, in which working people agree to commit a portion of their labor to providing for the elder care needs of those who nurtured them during their childhood. They expect the next generation of youth will likewise care for them in turn.
The threat facing future retirees is not insufficient money—which government can easily create with an accounting entry—it’s demographics (https://www.yesmagazine.org/issues/respecting-elders-becoming-elders/1285). In 1960, there were five working people per retiree. Because of longer life spans and the greater percentage of people reaching retirement age, that ratio was 3.3 to 1 in 2004. Unless the retirement age changes dramatically, it will be down to 2 to 1 by 2040.
Those of working age best secure their elder years by investing in the productivity of those who will follow them—by investing in the education, technology, and infrastructure required for the next generation of workers to provide for their own future nutrition, shelter, health care, and other essentials, while doing the same for those who can no longer provide for themselves.
Wall Street financial scams and phantom wealth financial assets (https://www.yesmagazine.org/blogs/david-korten/7-ways-to-stop-wall-streets-con-game) will not feed us or provide us with essential shelter and health care. We had a system of institutions that effectively met our need for the basic financial services required by a real wealth economy—until Wall Street dismantled them. We can rebuild them.
---------------------------------------------------------
David Korten (livingeconomiesforum.org (https://livingeconomiesforum.org/)) is the author of [I]Agenda for a New Economy (https://store.yesmagazine.org/other-products/agenda-for-new-economy-2nd-edition), The Great Turning: From Empire to Earth Community (https://store.yesmagazine.org/other-products/the-great-turning-from-empire-to-earth-community), and the international best seller When Corporations Rule the World (https://store.yesmagazine.org/other-products/when-corporations-rule-the-world). He is board chair of YES! Magazine (https://www.yesmagazine.org/) and co-chair of the New Economy Working Group (https://neweconomyworkinggroup.org/). This Agenda for a New Economy blog series (https://www.yesmagazine.org/blogs/david-korten/agenda-for-a-new-economy) is co-sponsored by CSRwire.com (https://www.csrwire.com/) and yesmagazine.org (https://www.yesmagazine.org/front-page) based on excerpts from Agenda for a New Economy, 2nd edition.
(https://www.commondreams.org/view/2011/06/01-2)