[manuelabeledo]

People complaining about the current social security ”demise”, and people claiming that the Austrian backpack is the solution, are the same, i.e. people who believe that individualized plans are preferable to socialized ones, but fail to understand that it creates more disparity, and less security.

The Austrian backpack is extremely beneficial to large companies, thus is of no surprise that it gets touted in the news from time to time.

They don’t talk that much about its biggest drawback: in a market where wages are already low and talent is rarely valued, it would make firing people so cheap, companies wouldn’t really have any incentive to keep highly paid employees, even if they are excellent performers.