

99-Year-Old Minimum Wage Custodian ... Why Everyone Hates Economics - rsgoheen
http://www.slate.com/blogs/moneybox/2013/07/22/_99_year_old_st_petersburg_custodian_and_why_everyone_hates_economics.html

======
throwaway1979
The article is trying to make a good point but it seems to be getting lost in
some inner-conflict on the part of the writer. In asian countries, it is not
uncommon for well to do families to employ a bunch of people for jobs that
aren't strictly necessary. A strong part of the motivation for this is to
provide a type of welfare. This is but one side of the coin. I know of a few
older (post-70) individuals who are in reasonably good health but work "odd"
jobs with low wages just to get the company of other people or to have a
purpose in life. One 80+ individual just hung out at a garage and helped
around. The "traditional" idea of playing golf/gardening in retirement are not
as global as one might think. The fact that this company is continuing to pay
their 99-year old custodian comes off as a good thing in my books.

~~~
throwaway1979
I want to relate the story of the doorman in my old Manhattan apartment. First
off, my apartment had like 5 or 6 doormen that alternated in some weird
schedule. The residents and the doormen had a very kind relationship. One of
the older doormen went on for a few months about his retirement (he defn
looked older than 65) and how he was going to miss us (residents). When he
eventually left, about a month later there was a notice in the apartment that
he had passed away. On one hand, that's life. On the other, back in the old
country, I've seen people whither away once their purpose in life goes away. I
know mentally that there are so many problems on this earth, so much help we
can provide each other. So you can argue that a person can keep doing new,
good things despite their age. But I think when you get to your 60s or 70s or
whatever, you come to terms with it - with your own purpose in life. Time is
cruel and the human body is frail. We should truly respect our elders.

------
mathattack
Good article, but the title is a stretch. This isn't about everyone hating
economics. It's that people operate for reasons other than just money, and
this can appear irrational. That's where behavioral economics comes in. And
keeping someone around to keep others happy does have economic benefit.

