Pension system breaks up by the shock thinking

Abstract

The article defends on of the conclusion of the study Pension Reforms from Chile to Central Eastern Europe and argues that the Czech pension system is sustainable, because is built on the principle of pay-as-you-go (PAYG) and works at the low-cost.

Keywords

• Czech Republic
• pensions
• pension system
• privatization
• shock doctrine, public expenses, public income
• GDP
• employment