Mises Wire

The government invented retirement

The government invented retirement

Just off hand, the New York Times happens to mention that “the passage of the Social Security Act [in 1935] created retirement as we know it”--which is another way of saying that it is wholly artificial, a creature of the interventionist state. From the FM 1997, William Diehl explains that retirement didn’t catch on until the late 1950s. Meanwhile, Google is overrun with predictions about the end of retirement.

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