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Privatizing Social Security Results In Inefficiency, Moral Hazard, And Very Low Productivity

In: Social Security's Investment Shortfall: $8 Trillion Plus — and The Way Forward Plus How the US Government's Financial Deficit Reporting = 64 Madoffs

Author

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  • Nils H Hakansson

    (University of California, Berkeley, USA)

Abstract

The idea of privatizing Social Security or the minimum safety net in part or in full has a long history but was especially hotly debated after the second Bush administration proposed a partial privatization. To consider the merits or demerits of such a move it will be useful to first briefly review the lessons from the various countries which have implemented, and thus have experience with, privatization of public pension schemes.

Suggested Citation

  • Nils H Hakansson, 2012. "Privatizing Social Security Results In Inefficiency, Moral Hazard, And Very Low Productivity," World Scientific Book Chapters, in: Social Security's Investment Shortfall: $8 Trillion Plus — and The Way Forward Plus How the US Government's Financial Deficit Reporting = 64 Madoffs, chapter 6, pages 47-56, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814407977_0006
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