Stick with Public Pensions

Although privatization zealots backed by Wall Street have called for replacing Social Security with mandatory investment in stocks and bonds, their promised high rates of return do not accord with experience. Any form of private investment is much riskier than a government program--and in the end ca...

Full description

Saved in:
Bibliographic Details
Published in:Foreign affairs (New York, N.Y.) N.Y.), 1997-07, Vol.76 (4), p.39-53
Main Author: Leone, Richard C.
Format: Magazinearticle
Language:English
Subjects:
Baby Boom generation
Comparative analysis
Economic aspects
Economic development
Economic growth
Economic reform
Employee pension plans
Financial securities
Government regulation
Income taxes
Individual retirement accounts
International
Investment
Labor force
Laws, regulations and rules
Net losses
Old age benefits
Old age pensions
Older adults
Payroll taxes
Pension funds
Pension plans
Pensions
Political aspects
Private pensions
Privatization
Public employee pension funds
Public pensions
Public policy
Retirees
Retirement
Risk
Social and economic security
Social insurance
Social policy
Social security
Social security reform
Statistical data
Supporting Retirees II
U.S.A
United States
Workers
Workforce
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Although privatization zealots backed by Wall Street have called for replacing Social Security with mandatory investment in stocks and bonds, their promised high rates of return do not accord with experience. Any form of private investment is much riskier than a government program--and in the end can be more expensive if the government must bail it out. For at least a generation, retirement taxes would rise, funneling money to private investors. With small adjustments, the current pay-as-you-go system can continue its historic success.
ISSN:0015-7120
2327-7793
DOI:10.2307/20048120