New Series from the Institute for Socio-Economics
Why Economists Often Disagree
- 15.07.2026
Should the state invest more or cut spending? Do we need higher wages, lower taxes or more private provision? Answers to economic policy questions often differ widely. A new publication series from the Institute for Socio-Economics at the University of Duisburg-Essen explains the economic schools of thought behind these different positions. The first issue of the Socio-Economic Papers (in German) focuses on old-age security.
The freely accessible publications, which will appear several times a year, are aimed at anyone who wants to better understand economic policy debates. The authors explain fundamental relationships, place historical developments in context and present key data and facts. At the same time, they compare different economic perspectives. In this way, the series shows why experts may assess the same economic problems differently and arrive at different policy recommendations.
“Economic policy recommendations are often presented as though there were only one technically correct solution. In fact, many positions are based on different assumptions about how the economy and society function,” says Professor Till van Treeck of the Institute for Socio-Economics. “With the Socio-Economic Papers, we want to make these assumptions visible and enable people without a background in economics to form their own judgement.”
How Secure Are Pensions Through the Financial Market?
The first issue addresses one of the key controversies in economic policy: Do ageing societies need to make greater use of shares, funds and other capital investments to provide for retirement? Dr Julian Bank and Professor Till van Treeck first explain the foundations and historical development of Germany’s old-age security system. They then compare the pay-as-you-go statutory pension scheme with funded forms of provision.
The publication makes clear that greater reliance on funded provision does not automatically solve the challenges posed by demographic change. Regardless of how pensions are financed, the goods and services that older people will need in the future must be produced by the working population at that time.
The publication examines the opportunities and risks of both systems and shows how different schools of economic thought lead to different assessments and economic policy recommendations.
Further information:
Prof. Dr Till van Treeck, Institute for Socio-Economics, till.vantreeck@uni-due.de
Dr Julian Bank, Institute for Socio-Economics, Tel.: +49 203 379-1582, julian.bank@uni-due.de