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Should the United States Privatize Social Security?

Contents:

Editor Info

  • Benjamin M. Friedman
    () (Harvard University)

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Author Info

  • Henry J. Aaron

    (Brookings Institution)

  • John B. Shoven

    ()
    (Stanford University)

Abstract

The two papers that make up the core of this book address what is perhaps the most fundamental question in the current debate over Social Security: whether to shift, in part or even entirely, from today's pay-as-you-go system to one that is not just funded but also privatized in the sense that individuals would retain control over the investment of their funds and, therefore, personally bear the associated risk. John Shoven argues yes, Henry Aaron no. Theoretical issues such as the likely effects on saving behavior and capital formation figure importantly in this discussion. But so do a broad array of practical considerations such as the expense of fund management and accounting, questions about how the public would regard the fairness of any new system, and the impact of recent developments in the federal budget and the U.S. stock market.

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Bibliographic Info

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This book is provided by The MIT Press in its series MIT Press Books with number 0262011743 and published in 1999.

Volume: 1
Edition: 1
ISBN: 0-262-01174-3
Handle: RePEc:mtp:titles:0262011743

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Web page: http://mitpress.mit.edu

Related research

Keywords: social security; privatization; fund management;

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Cited by:
  1. Jousten, Alain & Pestieau, Pierre, 2001. "Labour Mobility, Redistribution And Pensions Reform In Europe," CEPR Discussion Papers 2792, C.E.P.R. Discussion Papers.
  2. PESTIEAU, Pierre & POSSEN, Uri, 2000. "Macroeconomic implications of switching the social security trust fund towards a greater investment in equities," CORE Discussion Papers 2000035, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Pestieau, Pierre & Possen, Uri M., 2000. "Investing Social Security in the Equity Market. Does it Make a Difference?," National Tax Journal, National Tax Association, vol. 53(n. 1), pages 41-58, March.
  4. Sergio Cesaratto, 2002. "The Economics of Pensions: A non-conventional approach," Review of Political Economy, Taylor & Francis Journals, vol. 14(2), pages 149-177.
  5. Helmut Cremer & Pierre Pestieau, 1999. "Coping with the pension crisis: is it a demographic, financial or political problem?," CREPP Working Papers 9907, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
  6. Forum Franco Allemand, 2001. "EU Labour Markets," Working Papers 2001-05, CEPII research center.
  7. Christopher Niggle, 2003. "Globalization, Neoliberalism and the attack on social security," Review of Social Economy, Taylor & Francis Journals, vol. 61(1), pages 51-71.
  8. Bossi, Luca, 2008. "Intergenerational risk shifting through social security and bailout politics," Journal of Economic Dynamics and Control, Elsevier, vol. 32(7), pages 2240-2268, July.
  9. Deutsch-Französisches Wirtschaftspolitisches Forum (Ed.), 2001. "The impact of Eastern enlargement on EU-labour markets. Pensions reform between economic and political problems," ZEI Working Papers B 12-2001, ZEI - Center for European Integration Studies, University of Bonn.
  10. Sergio Cesaratto, 2004. "The controversy over the US Social Security Surplus. A non conventional view," Department of Economics University of Siena 418, Department of Economics, University of Siena.
  11. Sita Nataraj & John B. Shoven, 2003. "Comparing the Risks of Social Security with and without Individual Accounts," American Economic Review, American Economic Association, vol. 93(2), pages 348-353, May.
  12. Gupta Ramesh, . "Pension Reforms in India: Myth, Reality and Policy Choices," IIMA Working Papers WP2002-09-03, Indian Institute of Management Ahmedabad, Research and Publication Department.

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