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The German Laws of Insurance Against Invalidity and Old Age: A History, Analysis and Criticism*

Published online by Cambridge University Press:  18 August 2016

T. E. Young
Affiliation:
Institute of Actuaries

Extract

The law adopted by the German Reichstag on the 23rd of May 1889 for insurance against invalidity and old age must demand careful attention as one of the most daring social and economic experiments in modern history.

Its many varied aspects solicit and repay the sedulous thought of the philosopher, as a contribution to one of the deepest problems in the evolution of man: of the statesman, as a signal tentative experiment in the compacting of a nation into an intimate and interdependent unity: of the economist, as a bold departure from principles of social condition which had generally prevailed, and as a practical criticism upon the doctrine of laissez faire: of the historian, as a problem in the mode of development of nations: of the moralist, as a contribution to practical social ethics: and of the actuary, as affording him a question which peculiarly is fitted to engage the disciplined thought and experience in which he has been trained.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1892

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References

page 281 note * It will be remembered that the federal Council—the Bundesrath—is the assembly which represents the confederated individual States of Germany: and that its members are appointed by the Governments of those States for each session. The Reichstag, or Diet of the Realm, represents the German nation: and its members are elected by universal suffrage. In these bodies vest conjointly the legislative functions of the Empire,

page 289 note * I t will be remembered that in our own system of Post Office Savings' Banks this plan was introduced in November 1880, which the German officials have evidently copied.

page 300 note * For a complete explanation and illustration of these “transitory” provisions, vide the Addendum to this Paper on page 362, et seq.

page 311 note * Vide column 5 of Table I in the Supplement.

page 312 note * Vide Section (I) of the Mathematical Basis and Table I in the Supplement.

page 313 note * Confer columns 5 to 7 of Table D with column 4 of Table I in the Supplement.

page 313 note † Vide Table I in the Supplement.

page 315 note * Vide Table I in the Supplement.

page 318 note * The sterling figures throughout this paper are only fractionally correct, in consequence of the conversion (at Is. per mark) of decimals of marks. They are quite sufficient, however, for all purposes.

page 320 note * See Column 6 of Table VIII in the Supplement.

page 322 note * The phrase “most probable”, employed here and elsewhere, is that used in the original.

page 322 note † In the table 12·6576.

page 323 note * See formula xxiv, page 310.

page 329 note * I have not, unfortunately, found it feasible to convert the system of notation into that adopted by the Institute of Actuaries.

page 362 note * Vide section ii under B, page 285; and section x on page 300.