Morganist Economics.

[morganist]

My school of economic thought Morganist Economics has been used in the UK for over a decade and has successfully hit macroeconomic targets. The link below explains.

http://morganisteconomics.blogspot.com/2019/05/letter-to-various-newspapers-regarding.html

The book explained is available below.

http://morganisteconomics.blogspot.com/p/blog-page.html

 

[gaussian]

You should probably pay for ads.

 

[morganist]

You should probably pay for ads.

I checked with Baron, who said it was ok as it is a educational reference. He can take it down if it is not acceptable.

 

[Baron]

Confirming I Ok'd this in advance.

 

[morganist]

I felt I didn't have a choice but to publish the paper because it was used so much it became 'Modern Applied Macroeconomics'. It is just making the educational resource available to the population so I can make sure they were provided with that knowledge. The book was originally an electronic document so I made the paperback version available to meet user needs.

My school of economic thought Morganist Economics has been used in the UK for over a decade and has successfully hit macroeconomic targets. The link below explains.

http://morganisteconomics.blogspot.com/2019/05/letter-to-various-newspapers-regarding.html

The book explained is available below.

http://morganisteconomics.blogspot.com/p/blog-page.html

 

[Stockolio]

My school of economic thought Morganist Economics has been used in the UK for over a decade and has successfully hit macroeconomic targets. The link below explains.

http://morganisteconomics.blogspot.com/2019/05/letter-to-various-newspapers-regarding.html

The book explained is available below.

http://morganisteconomics.blogspot.com/p/blog-page.html

Pension Funds biggest problem is that Life Longevity has increased from the 1970-90s, and the Tax Paying Bracket 25-55 ( Peak Salaries for General Population ) is decreasing... Add degenerate investments which don't cover the 7 % gain a year needed, and you have situations like Illinois that will be popping out all over the world... They increase State Taxes even more in order to fund the gap, leading to current exodus of higher earners and their families. The more you tax, the less tax funding you will receive, like when France had that Socialist 75 % tax on 1 Million Euro + a year, the took so little tax income they cancelled it after a year... I fear Pensions are headed that way in the short run

Illinois is the poster child on this, high earners are fleeing... You can only fleece people for so long

 

[morganist]

Pension Funds biggest problem is that Life Longevity has increased from the 1970-90s, and the Tax Paying Bracket 25-55 ( Peak Salaries for General Population ) is decreasing... Add degenerate investments which don't cover the 7 % gain a year needed, and you have situations like Illinois that will be popping out all over the world... They increase State Taxes even more in order to fund the gap, leading to current exodus of higher earners and their families. The more you tax, the less tax funding you will receive, like when France had that Socialist 75 % tax on 1 Million Euro + a year, the took so little tax income they cancelled it after a year... I fear Pensions are headed that way in the short run

Illinois is the poster child on this, high earners are fleeing... You can only fleece people for so long

The book sounds perfect for you. It explains how you can resolve many of the issues you raised through pension saving reforms. There is an element to pension saving where you receive tax relief, by chaning the pension saving methodology you can even lower the government tax bill and generate treasury cost efficiencies. You can also enable economic growth.

 

[piezoe]

the problem with under funded government pension plans is more political than actuarial. As part of the political problem, the move to privatize, by pushing defined contribution plans in preference to defined benefit, has been damaging via additional risk and higher costs.*

The actuaries know what needs to be done: a) increased wages for labor; b) contribution rates timely adjusted for changing demographics; c) widespread adoption of defined benefit plans. The latter have the great advantage of shared risk, and therefore defined benefit plans** produce the same retirement benefit at lower contribution rate, and too, a benefit that can not be outlived. The trade-off for these benefits is the forfeiture of any residual upon death.
________________
*The best arrangement is a combination of a universal, mandatory public plan that provides a reasonable retirement income above the poverty level that can be voluntarily supplemented with an additional defined contribution plan. Pension plans, like medical care, should never be linked to employment. Instead, they should always be universal and transportable regardless of employment. The U.S. has, in the past, come somewhat close to the ideal arrangement. In recent decades, however, sound management of the Public Plan has been interfered with by politics coming down on the side of self- and special- interests.
**when properly designed and managed without political interference.

 

[morganist]

the problem with under funded government pension plans is more political than actuarial. As part of the political problem, the move to privatize, by pushing defined contribution plans in preference to defined benefit, has been damaging via additional risk and higher costs.*

The actuaries know what needs to be done: a) increased wages for labor; b) contribution rates timely adjusted for changing demographics; c) widespread adoption of defined benefit plans. The latter have the great advantage of shared risk, and therefore defined benefit plans** produce the same retirement benefit at lower contribution rate, and too, a benefit that can not be outlived. The trade-off for these benefits is the forfeiture of any residual upon death.
________________
*The best arrangement is a combination of a universal, mandatory public plan that provides a reasonable retirement income above the poverty level that can be voluntarily supplemented with an additional defined contribution plan. Pension plans, like medical care, should never be linked to employment. Instead, they should always be universal and transportable regardless of employment. The U.S. has, in the past, come somewhat close to the ideal arrangement. In recent decades, however, sound management of the Public Plan has been interfered with by politics coming down on the side of self- and special- interests.
**when properly designed and managed without political interference.

There are loads of macroeconomics benefits to changing the annual pension saving allowance such as hitting inflation targets and economic growth targets. Large savings can be made through treasury cost efficiencies deriving from altering government tax relief payments.