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Feldstein’s Rhetoric of Private Retirement Accounts

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Author Info
Rojhat B. Avsar
Abstract

The purpose of this study is to provide an alternate approach to studies of the rhetoric of policy-relevant economics. Martin Feldstein’s pro-privatization rhetoric relative to Social Security is first analyzed. A subsequent comparison his rhetoric to that of George W. Bush concludes that both the political and the economic rhetoric of Social Security privatization follows diagnostic, prognostic and motivational framing. Just as the political rhetoric of Social Security invokes the authority of ‘ideographs such as ‘personal ownership’ in its motivational frame to draw on a society’s ‘ideological and cultural repertoire’; economic rhetoric employs what we will call ‘economic ideographs’ like ‘deadweight loss’ to resonate with fellow economists through an appeal to the ‘implicit antecedent normative premises’ embedded in the language of economics. In both cases, the motivational frame aims at persuading the targeted persuadee of the merits of the policy proposal or technical choice.

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Paper provided by University of Utah, Department of Economics in its series Working Paper Series, Department of Economics, University of Utah with number 2008_23.

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Length: 18 pages
Date of creation: 2008
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Handle: RePEc:uta:papers:2008_23

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Keywords: Social Security; individual accounts; privatization; ideograph; rhetoric; Feldstein;

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  1. Martin Feldstein, 2005. "Structural Reform of Social Security," NBER Working Papers 11098, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. James R. Hines Jr., 1999. "Three Sides of Harberger Triangles," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 167-188, Spring. [Downloadable!] (restricted)
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