Aging creates financial troubles for PAYG pension systems, since the share of retirees to workers increases. An often advocated policy response is to increase retirement age. Ironically, however, the political support for this policy may actually be hindered by population aging. Using Swiss...

In the title of this work, one may notice a nod towards Shakespearean drama. Here the tragedy of the situation relates to making a choice on whether people at the age of retirement should be left with an unequivocal choice: either work and receive remuneration for it, or retire. However, would...