By Krishna Guha

Quick comeback to Nick: in the US the fiscal costs of population ageing can’t be solved by working longer because the main cost is Medicare/Medicaid not retirement benefits. Major reform that reduces future spending on these programmes – while hopefully improving efficiency a lot as well so the net reduction in benefit is not is large as the reduction in outlays – is unavoidable.


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Is there room for morals in finance?

The FT's Arena blog is a forum for the debates of the times. Its latest discussion is on money and morals. Is there room for morals in finance? Share your views. Click on Comment to add your contribution.

Related links:
Video series: Money and morals
In depth: London fights for its future
Global financial crisis

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