Public Education and Pensions Ensure Efficient Intergenerational Transfer Scheme
The article discusses how public education and pensions can help fix inefficiencies in the economy when young people can't get loans for education. By borrowing from older generations for education and paying back through social security, a fair system is created. The study found that when these systems work together, there should be equality in returns for different generations. Data from Spain supported this idea, showing that future generations may not be worse off as previously thought.