Advanced Search
MyIDEAS: Login to save this article or follow this journal

Public Policy Evaluation, Social Risk and Pension Capital

Contents:

Author Info

  • Mordecai KURZ

    (Department of Economics Stanford University)

Registered author(s):

    Abstract

    Today’s demand for social insurance is supported by economic reasoning showing that private insurance markets do not provide efficient coverage for medical insurance, for inter-generational risk sharing and for income instability. It is unfashionable to say but government intervention in these areas is the solution and Conservative economic ideology is the problem. Hence, policy in the 21th century will focus on publically managed social insurance. In studying the problem of Social Security, I show it arises from changing demography which generated a deficit. Study of proposed solutions lead me to four conclusiones: (i) Privatization of Social Security is infeasible since system has a «Legacy Debt» of $11.6 trillion. (ii) Proposals to privatize Social Security are ideologically motivated and offer no real solution. (iii) Privatization is undesirable since it is not optimal to rely entirely on the markets to determine retirees’ incomes. Volatility of financial markets will result in unacceptable inter-generational income inequality.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://riss.vitaepensiero.it/scheda-articolo_digital/mordecai-kurz/public-policy-evaluation-social-risk-and-pension-capital-000518_2006_0003_0389-150854.html
    Download Restriction: Yes

    Bibliographic Info

    Article provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.

    Volume (Year): 114 (2006)
    Issue (Month): 3 ()
    Pages: 389-416

    as in new window
    Handle: RePEc:vep:journl:y:2006:v:114:i:3:p:389-416

    Contact details of provider:

    Related research

    Keywords: Welfare state; Social Security; public policy; social insurance; insurance markets; risk sharing; Legacy Debt; privatization; private retirement accounts; conservative economics; market volatily;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:vep:journl:y:2006:v:114:i:3:p:389-416. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vep - Vita e Pensiero).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.