By Robin Blackburn
Publish yr note: First released in December 1st 2006
Most nations face the longer term with an ageing inhabitants, but so much governments are decreasing on pensions and the care companies wanted by way of the aged. Robin Blackburn exposes the perverse reasoning and distinct pursuits that have mixed to supply this nonsensical situation. This up to date paperback version of Age surprise features a new preface explaining why the credits crunch and eurozone situation have had one of these devastating effect and outlining how to warrantly good pensions and care provision.
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5 percent in 1983. Although there was a small falloff in public construction and a significant drop in housing, most of the decline was in private business investment. Despite some recovery in the private component after 1985, investment has never returned to the rates achieved in the 1960s. 18 18. The computation is based on the assumption that the capital stock, currently twice that of GDP, would need to grow at the same rate of output. The capital stock is constructed with a 5 percent rate of annual depreciation.
The pre-1975 economic boom translated into surprisingly little job growth. In part, this can be traced to large emigration in that period, in some years leading to a decline in the male working-age population. 38 bosworth/collins Figure 2-6. net-empleopr. S. gov [July 2005]). Historical data, adjusted to conform to the population aged sixteen and over, were provided by Orlando Sotomayor. 22 There was also a large decline in participation rates for young males (sixteen to twenty-four years of age) relative to the mainland.
Minimum wage was extended to Puerto Rico. 26 Again, it is interesting to note that the census indicates quite a different pattern of change in the unemployment rate (table 2-6). According to these data, unemployment was initially low but in 1990 and 2000 rose far above the rate implied by household survey data. 27 We are left with a substantial puzzle: why is Puerto Rico’s labor force participation rate so depressed? Other chapters in this volume focus on this issue (in particular, chapters 3 and 4).
Age Shock: How Finance Is Failing Us by Robin Blackburn