The Abolition of Poverty

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It obtains only among the better-paid classes of wage-earners and is weak where the need for it is relatively greatest. At best the aid which it renders is insufficient in amount and duration, and, worst of all, it imposes the cost too largely upon the wage-earner. To meet these essential require- ments, the most enlightened countries of the world have adopted or projected systems of. > compulsory insurance against sickness. Utiliz- ing existing voluntary agencies, such systems undertake, by jo...int contribution of employers, workmen, and the public treasury, to provide beneficiary payments for every wage-earner, in the event of sickness, for the entire period of disability and to an amount sufficient to main- tain the accustomed standard of life.
The economic problem of old age grows out 102 THE ABOLITION OF POVERTY of the certainty that a large proportion of the body of wage-earners find it sooner or later im- possible to secure employment because of failing efficiency. The pressure and tension of modern industrial processes bring on this "economic old age" even before physical infirmity has set in.


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