Guest post: the real meaning of Poland’s pension reform | beyondbrics:
"In a famous joke from the communist era, a listener sends in a question to a Soviet radio station: “Is it true that cars are being given out for free on Moscow’s Red Square?”. “Generally speaking, yes – it’s true”, was the initial response. But then came a more detailed answer: “It’s happening in Leningrad, not Moscow; it’s bicycles, not cars; and they’re being stolen, not given out.”
The same can be said of some articles published recently about Poland’s plans to reform its pension system. Generally speaking, yes – part of the assets will be transferred to a pay-as-you-go system. But the rest of the picture painted by the authors of those texts is about as true as the great car giveaway in Red Square."
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