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• Archive: The Pension Crisis - Armstrongeconomics Get The Pension Crisis - Armstrongeconomics at the CourseAvai
• Historically, families and marriage provided the security needed to support the elderly prior to the proliferation of pensions.
• As the population became more industrialized, private annuities rose in popularity with pensions resembling disability insurance.
• With the rise of socialism, pensions not only grew in popularity but replaced the family as support for the elderly.
• Unfunded pensions combined with poor demographics in which the elderly comprise a greater portion of the global population are leading to a situation that could cause the collapse of governments globally.