The book argues that welfare states in developed societies do not provide systems of social insurance against the risk of an early death, and proposes a major reform of the welfare state by constructing a social insurance against a short life. It combines philosophical literature with economic analysis and proposes a reversed pension system that would allocate more free time and opportunities to younger members of society before they enter the labour market. The book examines the social desirability, financial feasibility, and societal consequences of this new system, and how pension allowances paid to young adults may be financed by the work of senior workers.

Format: Hardback
Length: 130 pages
Publication date: 29 March 2023
Publisher: Springer International Publishing AG

This book challenges the notion that welfare states in developed societies do not provide systems of social insurance against the risk of an early death. In contrast to the way in which economically developed countries provide ways of insuring citizens against other possibilities, such as unemployment and disease, no such social insurance mechanism exists for early death. The book aims to demonstrate that, despite the impossibility to compensate the victims of a short life once they are identified, and despite the impossibility to identify the persons who will be short-lived (when they are still alive), it is nonetheless possible to construct a social insurance against the risk of a short life by means of age-based statistical discrimination favouring all young persons. Combining philosophical literature with economic analysis, the book re-examines the ethical foundations of social insurance and proposes a major reform of the welfare state: the construction of a social insurance against a short life. It shows how such an insurance system could be constructed by partially ‘reversing existing pension systems, by offering a period of retirement to all young adults before they start their career. Such a ‘reversed pension system would allocate more free time and opportunities to younger members of society before they enter the labour market, and, hence, this system would also improve the lives of the – unidentified – young persons who will turn out to die prematurely. The book discusses the social desirability of this new system, as well as its financial feasibility and societal consequences, examining how pension allowances paid to young adults may be financed by the work of senior workers. As such, this book demonstrates how the universal uncertainty about the duration of life can be turned into a social insurance system that provides a period of retirement to all young adults before they start their career.

Book Title: "Social Insurance Against the Risk of a Short Life"

This book challenges the notion that welfare states in developed societies do not provide systems of social insurance against the risk of an early death. In contrast to the way in which economically developed countries provide ways of insuring citizens against other possibilities, such as unemployment and disease, no such social insurance mechanism exists for early death. The book aims to demonstrate that, despite the impossibility to compensate the victims of a short life once they are identified, and despite the impossibility to identify the persons who will be short-lived (when they are still alive), it is nonetheless possible to construct a social insurance against the risk of a short life by means of age-based statistical discrimination favouring all young persons. Combining philosophical literature with economic analysis, the book re-examines the ethical foundations of social insurance and proposes a major reform of the welfare state: the construction of a social insurance against a short life. It shows how such an insurance system could be constructed by partially ‘reversing existing pension systems, by offering a period of retirement to all young adults before they start their career. Such a ‘reversed pension system would allocate more free time and opportunities to younger members of society before they enter the labour market, and, hence, this system would also improve the lives of the – unidentified – young persons who will turn out to die prematurely. The book discusses the social desirability of this new system, as well as its financial feasibility and societal consequences, examining how pension allowances paid to young adults may be financed by the work of senior workers. As such, this book demonstrates how the universal uncertainty about the duration of life can be turned into a social insurance system that provides a period of retirement to all young adults before they start their career.

Weight: 329g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031247477
Edition number: 1st ed. 2023