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Macroeconomic effects of a gradual retirement system

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2 Author(s)
S. Chang ; Res. Center for Senior Productivity, State Univ. of New York, Stony Brook, NY, USA ; E. Chang

A very significant gain in US national income can be realized through a more effective utilization of human resources, i.e., a gradual retirement system. A worker following a typical gradual retirement schedule can gain the equivalence of three more years in working lifetime. An econometric study shows that an aggregated average increase of one year in the working lifetime of each worker will produce a gain of well over 150 billion dollars annually in US national income. The gain is of sufficient magnitude to ameliorate the pending Social Security deficit as the baby boom generation approaches retirement. Employers would also gain from increased productivity, enhanced opportunities for innovation, and more effective utilization of productive capital on the factory floor

Published in:

Systems, Man, and Cybernetics, 1998. 1998 IEEE International Conference on  (Volume:5 )

Date of Conference:

11-14 Oct 1998