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why firms often have mandatory retirement

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Present an economic argument to explain why firms often have mandatory retirement (where allowed by law).

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This job verifies why firms often have mandatory retirement.

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Economic analysis explains mandatory retirement based on the costs and benefits of hiring a work over a long-period of time. A company offers a pattern of wages and pension benefits that underpays its workers during early years, relative to their productivity, and overpays them during later years. This system- "deferred compensation"- provides incentives for ...

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