| Abstract: | The present paper examines the role of the State and the market in meeting social needs, with particular emphasis on retirement pensions. The argument proposed is based primarily on an analysis of recently observed ideological developments as well as of the results of various empirical studies conducted on the topic. A review of several theories and current debates on the issue constitutes the introductory part of the analysis. This is followed by a discussion of retirement pensions and the shortcomings of governments in this domain and by a review of the evidence obtained on the interaction between retirement pensions, investment and growth. Data and calculations relating to several developed and developing countries are presented as an illustration of the State's responsibility for social needs. The conclusion presents some reflections based on empirical evidence and a synthesis of insights obtained in this study. |
