Exchange‐based societies widely disperse their day‐to‐day decisions among their members and components. They arrange pluralistic social processes by means of economic exchange. In such societies, the fundamental dynamic of exchange should be a central consideration of any social welfare doctrines. Retirement entitlements should be considered a structural element of the exchange system itself. Current retirement entitlement and benefits programs are immediately and continuously a part of monetary‐fiscal policy management, and, as such, highly politicized. Such programs may be structured in a way that removes them from such short‐term influences. This study examines some ways in which retirement entitlement programs may be restructured and suggests that such restructuring should be undertaken in exchange‐based societies.
International Journal of Social Economics – Emerald Publishing
Published: Sep 1, 2004
Keywords: Pensions; Economic processes; Social welfare; Ethics