Katie Hood

speaker

592 appearances 3 recordings 1 series first heard Aug 2026 last heard 9 Sep

Katie Hood’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Aug 2026 with 2.

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Planet Money · Older workers aren’t retiring. Should they be forced to? · 7 Aug 2026 podcast

They wrote, younger scientists are, quote, more likely to instigate disruption in their fields, replacing established ideas with new ones. matched

While older scientists tend to iterate on their earlier work. matched

Now of course this is not true for all jobs, but matched

Sup. matched

And there is this economic theory that kind of backs some of this stuff up too, and the case for mandatory retirement. matched

Okay, so there is this economist, his name was Edward Lazier, and he used to say that mandatory retirement enabled this like implicit contract between the worker and the employer. matched

And it basically says when you are matched

A younger worker, you get paid less than your productivity. matched

But matched

We reward you by when you're an older worker, you get paid more than your productivity. matched

Right. matched

And he's like, but that only works. matched

And we all were okay with that because there was an end date to when you're an older worker. matched

Because otherwise, if you stay past, you know, 70, 75, 80, you're just getting this high salary and it's more than what we should have compensated you from this chunk when you were underpaid. matched

when you were underpaid. matched

Now it's not that older workers necessarily become less productive, it's that their salaries are just higher than their productivity. matched

And this economist, Edward Lazier, said mandatory retirement corrected for that. matched

Olivia says the assumption that older workers are generally overpaid relative to productivity is much less convincing today than when Lazier wrote his paper, and that it is probably a less complete description of compensation practices in today's labor market. matched

Because people bounce around now. matched

They don't stay at one job forever to reach that stage when they become overpaid, and early career workers are. matched

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