Too much, too many, too little
This week, we look at media commentary on capping fund managers’ bonuses, as well as on dealing with the needs of an ageing society.
Going too far
The Financial Times says it is understandable when the public demands limits to bankers’ bonuses. But the European Parliament’s plan to cap bonuses of private fund managers is an intrusion into the operation of private financial institutions.
… Voters have an interest in ensuring (banks) are properly run, since governments are often on the hook when things go wrong. But the same argument about public good does not apply to most fund managers or hedge funds. Regulating their pay is over-reach. …
A House of Lords report on Britain’s rapidly ageing population has prompted The Observer to consider the reasons behind this demographic change — one that is affecting other industrialized Western societies. It is time for a national strategy to deal with increasing demands on health and social services, as well as providing programmes that emphasize disease prevention, the newspaper writes.
… The postwar welfare state was predicated on full employment followed by a brief retirement. Now we are moving to a society in which centenarians are increasingly common and a third of life will consist of retirement. Yet services, pensions and social care continue to be moulded by the outdated 1950s model. …