This paper contributes to the literature on the weakness of modern pay-as-yougo social security systems in financing pensions by taking a business and economic historical perspective on the issue. It focuses on Prussian Knappschaften (plural of Knappschaft), which provided miners with compulsory...

This paper contributes to the literature on the weakness of modern pay-as-you-go, social security systems in financing pensions by taking a business and economic historical perspective on the issue. It focuses on Prussian Knappschaften (plural of Knappschaft), which provided miners with...