The Upside-Down Pyramid: How an Aging World Is Rewriting the Biggest Promise Ever Made Between Generations

M. Muñoz
Ebook
129
Pages
Tools
Eligible

About this ebook

On the twenty-fifth of every month, more than twelve billion euros move quietly into ten million bank accounts in Spain alone, the country's largest financial operation, larger than health care, education, or defense, and almost nobody notices. It is the payroll of a promise: a pension system nearly every developed nation built on one deceptively simple idea, that money is not saved for you but passed from the young to the old, trusting the next generation to do the same. This book follows one Spanish family across three generations — a retired factory worker, his working daughter, and his grandson who insists he'll never collect a cent — to explain, without agenda or alarmism, why that promise is now strained: humanity has achieved the finest problem it has ever had, living far longer while choosing to have far fewer children. From Bismarck's Germany to Sweden's orange envelope, from Chile's failed privatization to Norway's oil fund, and from America's third rail to China's retirement age, the book shows which levers governments pull, what each costs, and what a twenty-seven-year-old should honestly expect to collect.
On the twenty-fifth of every month, more than twelve billion euros move quietly into ten million bank accounts in Spain alone, the country's largest financial operation, larger than health care, education, or defense, and almost nobody notices. It is the payroll of a promise: a pension system nea...

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