Question 1

High poverty rate among younger generations is caused mainly by family structure, unemployment, and declining wages.

Accepted Answer

Family structure, unemployment, and declining wages are all factors that contribute to poverty among younger generations. A lack of stable family structure can limit access to resources and support; unemployment can lead to limited financial resources; and declining wages can make it more difficult to make ends meet. These factors have been cited in research as major contributors to poverty rates among younger generations.

Question 2

Describe trends in poverty among older adults in recent decades. What impact have major entitlement programs had on poverty among the aged?

Accepted Answer

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Question 3

The privatization of Social Security is more consistent with the generational interdependence framework than with the generational equity framework.

Accepted Answer

The generational equity framework is more aligned with the idea of privatizing Social Security because it focuses on ensuring that each generation is treated fairly and does not bear a disproportionate share of the burden for social welfare programs. Privatization is seen as a way to potentially achieve this by allowing individuals to manage their own retirement savings. The generational interdependence framework, on the other hand, emphasizes the mutual support and benefits shared across generations within social programs like Social Security, suggesting a collective approach rather than privatization.

Question 4

Should eligibility for entitlement programs, such as Social Security and Medicare, be based on need rather than age? Discuss the advantages and disadvantages of need-based eligibility for what are currently entitlement programs.

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Question 5

Intergenerational transfers refer to the inheritance of assets by younger generations that were once held by older generations.

Accepted Answer

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Question 6

Explain the logic of "generational equity." What evidence is used to support the generational equity thesis that older adults are to blame for economic problems in the United States?

Accepted Answer

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Question 7

Out-of-pocket medical expenses contribute to the economic insecurity of many older adults.

Accepted Answer

Many older adults struggle to afford out-of-pocket medical expenses, which can lead to economic insecurity. This is especially true for those on fixed incomes or with limited savings.

Question 8

Thurow argues that the group in greatest need of government support is unemployed persons between ages 18 and 64.

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Question 9

Proponents of generational equity have a different conception of fairness compared to proponents of generational interdependence. Compare and contrast these differing notions of fairness. Which are you more likely to agree with, and why?

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Question 10

Do you agree or disagree with Thurow's concern that the growing population of older people will comprise a political force that will make excessive economic demands for their benefit?

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Question 11

The average condition of older Americans has improved markedly in recent decades when measured according to income, health status, and educational level.

Accepted Answer

According to research, the average condition of older Americans has improved in recent decades when measured according to income, health status, and educational level. This can be attributed to advancements in healthcare, education, and overall economic development.

Question 12

Advocates for the aging often argue that both young and old have a "common stake" that should overcome generational differences. What do you consider to be some of the features of this "common stake" and what ideas do you have for intergenerational cooperation and interdependence?

Accepted Answer

The answer of Advocates for the aging often argue that...

Question 13

Proponents of generational equity argue that we need to rethink the values that inform policy decisions, while those who support the generational interdependence framework argue that this is unnecessary.

Accepted Answer

Proponents of generational interdependence argue for the importance of considering the connections and mutual benefits between generations in policy decisions, suggesting a need to rethink values that solely focus on individual generations, such as those often emphasized by generational equity advocates.

Question 14

Thurow argues that means-tested benefits for older adults would be opposed by young and old alike.

Accepted Answer

Thurow argues that means-tested benefits for older adults would be opposed by young and old alike as they would undermine the universality and solidarity of the social insurance system. Young people would see these benefits as unfair and discriminatory, while older adults would feel stigmatized and embarrassed by having to prove their means to receive assistance. Therefore, Thurow suggests a universal social insurance system that covers all individuals regardless of their income or age.

Question 15

Burtless and Samuelson offer different perspectives on governmental spending on older adults. Summarize their arguments and discuss which seems the most reasonable to you, and why.

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Quiz 8: Should Age or Need Be the Basis for Entitlement