Mises Daily
Author:
Oskari Juurikkala
Online Publish Date:
“Kinder haben die Leute immer — People will always have children,” assured Konrad Adenauer, the German Chancellor, in 1957. He was convinced that the future of the brave new pay-as-you-go social security system would not be undermined by demographic changes. Adenauer was as wrong as ever. Social security schemes around the developed world are