Opinion – The Italian pension affair and the concept of intergenerational equality| Silvia Merler at Bruegel.org – John Gelmini

To answer Dr Alf’s question, the answer is ‘no’ because most existing pensioners in Italy, or anywhere else, are on fixed incomes.

Pensioners, in the future, should get their pensions at a later age, as happens in the UK where the NI system became insolvent in 2000. This was never reported to the public but I saw the correspondence between four leading pension providers and the Treasury in 1998 which described what would happen.

The problem with Italy is a lack of taxpayers and a low rate of family formation. By exporting more of the things that people want, jobs and taxpayers can be created but at present the discussion seems to center on the division of existing spoils rather than the necessity for new monies to pay for an increasingly ageing population. More of these pensioners should be encouraged to startup micro businesses instead of gossiping, drinking coffee and imbibing wine but old habits die hard.

The young in Italy, like the young in the UK need to wake up, learn relevant languages, acquire relevant skills, training, learn NLP and how to sell, and then migrate to where the work is, just like my parents did many years ago.

John Gelmini

Trade unions still matter in 21st-century Britain | Letters | Politics | The Guardian

Former British Prime Minister Margaret Thatcher

Former British Prime Minister Margaret Thatcher (Photo credit: Wikipedia)

These letters published in the Guardian are well worth a read. Check it out!

via Trade unions still matter in 21st-century Britain | Letters | Politics | The Guardian.

I immediately took exception to this content which is biased and lacking in both objective and subjective experience. The first sentence blamed the late Margaret Thatcher for the loss of traditional British industries.

I see matters very differently. I respect the role of trade unions in their early days when they helped with introducing safer working conditions and fair wages and salaries.

However, for me, many big unions are like dinosaurs, out of touch with economic reality, and ready to push their members out of jobs by their political actions. Unions protect a minority of people.

The evidence is available around the World. Look at car-manufacturing in the US, Australia or the UK? If you want services, looking at the damage that the unions have done in the public sectors around the world – one example that always comes to mind for me is teachers actions impacting upon education standards.

Most importantly, in many European countries, there are a large number of people in weak ‘zero hours’ type employment contracts. Employers are less inclined to increase unionized employers and prefer the weaker zero hours type contracts.

Perhaps, we need a new type of union that will be able to offer some help to people on zero hours contracts?