| Popis: |
All societies have to face the problem no one can financially support her- or himself during all periods of life. Low earnings capacity may be caused by, for example, sickness, disability, unemployment, child rearing, widowhood and old age. Thus, all societies have to organize support for those without earnings capacity. Three broad ways can be distinguished: the family, the market and the state. In most societies, all three ways co-exist with one of them being dominant. The family model is dominant in developing countries while in industrialized countries a state model, in the form of a pay-as-you-go public pension, is most common. |
