Should the United States Privatize Social Security? (Alvin Hansen Symposium Series on Public Policy)
Henry J. Aaron, John B. Shoven, Benjamin M. Friedman, Alvin Hansen Symposium on Public Policy 1998 Harvard University)ISBN: 0262011743; 9780262011747;
"Here's the deal. Spend a few hours with this book, and Aaron, Shoven and the others will bring you up-to-date on the most important social policy debate now going in America. Not only that, you'll enjoy the read." -- Alan S. Blinder, Department of Economics, Princeton University 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 suchas 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...