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Business Standard

BS Number Wise: Old scheme puts burden of employee pension on the states

Some governments are seeking short-term benefits to finance their bills, risking their financial security

Topics
BS Number Wise | pension scheme | Salaries

Ishaan Gera  |  New Delhi 



The Robinson Crusoe economy is a good example to explain the concept of comparative advantage and inter-generational consumption. In a Crusoe economy, where the only occupation is fishing, the current generation controls consumption and conserves for the future. The system works until a generation starts apportioning a larger share of fish.

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First Published: Tue, October 04 2022. 22:26 IST

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