Bad economics is very debatable. Still a top 15 country by GDP, it virtually matches the economic output of Australia. Pensions are 20 times higher (!) from the country I'm originally from, that is still in the European Union. So yeah, if you are from US, it might look 'bad', but for about 6 Billion people it's a dream place. But also, they certainly don't work themselves to death. Live to live, not work.