Privatizing Social Security

Front Cover
Martin Feldstein
University of Chicago Press, Sep 1, 1998 - Business & Economics - 471 pages
0 Reviews
This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts.

"Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal

"[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
 

What people are saying - Write a review

Privatizing social security

User Review  - Not Available - Book Verdict

Widespread recent interest in the financial viability of the Social Security system in the 21st century makes this book, edited by Harvard economist Feldstein, timely and important. A massive and ... Read full review

Contents

The Chilean Pension Reform A Pioneering Program
33
Australias Retirement Income System
63
The Roles of the Public and Private Sectors in the UK Pension System
99
Pension System Reform The Mexican Case
135
The Shift to a Funded Social Security System The Case of Argentina
177
The Transition Path in Privatizing Social Security
215
Simulating the Privatization of Social Security in General Equilibrium
265
Privatizing Social Security FirstRound Effects of a Generic Voluntary Privatized US Social Security System
313
Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement
363
Administrative Costs in Public and Private Retirement Systems
403
Contributors
457
Author Index
459
Subject Index
463
Copyright

Other editions - View all

Common terms and phrases

Popular passages

Page vi - The interval is allowed for the receipt of any memorandum of dissent or reservation, together with a brief statement of his reasons, that any member may wish to express; and such memorandum of dissent or reservation shall be published with the manuscript if he so desires. Publication does not. however, imply that each member of the Board has read the manuscript, or that either members of the Board in general, or of the special committee, have passed upon its validity in every detail.
Page vi - Director, consisting of three Directors selected as nearly as may be one from each general division of the Board. The names of the special manuscript committee shall be stated to each Director when the summary and report described in paragraph (4) are sent to him.
Page vi - Board, requesting approval or disapproval of publication, and thirty additional days shall be granted for this purpose. The manuscript shall then not be published unless at least a majority of the entire Board and a...
Page vi - Presidents), consisting of three Directors selected as nearly as may be one from each general division of the Board. The names of the special manuscript committee shall be stated to each Director when notice of the proposed publication is submitted to him.
Page vi - Directors to the Work and Publications of the National Bureau of Economic Research 1. The object of the National Bureau of Economic Research is to ascertain and to present to the public important economic facts and their interpretation in a scientific and impartial manner. The Board of Directors is charged with the responsibility of ensuring that the work of the National Bureau is carried on in strict conformity with this object.
Page vi - Board, or to its Executive Committee, for their formal adoption, all specific proposals concerning researches to be instituted.
Page vi - Relation of the Directors to the Work and Publications of the National Bureau of Economic Research 1. The object of the National Bureau of Economic Research is to ascertain and to present to the public important economic facts and their interpretation in a scientific and impartial manner.
Page vi - Board and a two-thirds majority of those members of the Board who shall have voted on the proposal within the time fixed for the receipt of votes on the publication proposed shall have approved. 6. No manuscript may be published, though approved by each member of the special committee, until forty-five days have elapsed from the transmittal of the summary and report.
Page vi - Ementi) shall be appointed by majority agreement of the President and Vice Presidents (or by the Executive Committee in case of inability to decide on the part of the President and Vice Presidents), consisting of three Directors selected as nearly as may be one from each general division of the Board.
Page 16 - ... present value. That skepticism would be warranted in a static economy but is not appropriate when economic growth is continually enlarging the size of the Social Security liability. Shifting from an unfunded program to a funded one is an application of the general principle that, when you discover you are in a hole, the first thing to do is to stop digging. Shifting to a funded system eliminates the future losses associated with future increases in the size of Social Security wealth. In the first...

References to this book

All Book Search results »