The social-insurance systems in Europe, as in the United States, Japan, and elsewhere, were designed under vastly different economic and demographic circumstances – more rapid economic growth, rising populations, and lower life expectancy – from those prevailing today. Governments (the focus is on Greece and Italy at the moment, but they are not alone) have promised too much, to too many, for too long.
跟美国，日本以及其他国家一样，欧洲的社会保险体系是依据与当今形势截然不同的经济和人口状况（更快的经济增长，不断增加的人口和更低的期望寿命）设计的。各国政府（虽然目前焦点都集中在希腊和意大利身上，但它们并不是孤例）对过多的人许下了过多也过久的承诺。对此笔者在1986年出版的《过多承诺》一书也指出了美国社会福利系统存在的类似问题。