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Innovations in Protecting the Old: Mostly Social Insurance and Some Assets

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Abstract

Currently, there is an ideological commitment to individual asset building and an emphasis on individual wealth for retirement and superannuation. However, this focus embeds fatal flaws in old age income support programs. As a result, access to government subsidies for retirement savings is varied and has generated new sources of inequality. This paper was submitted to the Initiative for Policy Dialogue at Columbia University for an edited volume on “Innovations in the Welfare State†edited by Joseph Stiglitz.

Suggested Citation

  • Teresa Ghilarducci, 2017. "Innovations in Protecting the Old: Mostly Social Insurance and Some Assets," SCEPA working paper series. 2017-05, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepawp:2017-06
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    References listed on IDEAS

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    1. Jesse Bricker & Alice Henriques & Jacob Krimmel & John Sabelhaus, 2016. "Measuring Income and Wealth at the Top Using Administrative and Survey Data," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(1 (Spring), pages 261-331.
    2. Brigitte C. Madrian, 2014. "Applying Insights from Behavioral Economics to Policy Design," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 663-688, August.
    3. Nicholas Barr & Peter Diamond, 2009. "Reforming pensions: Principles, analytical errors and policy directions," International Social Security Review, John Wiley & Sons, vol. 62(2), pages 5-29, April.
    4. David Neumark & Ian Burn & Patrick Button, 2016. "Experimental Age Discrimination Evidence and the Heckman Critique," American Economic Review, American Economic Association, vol. 106(5), pages 303-308, May.
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    Keywords

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    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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