Keywords: Social security, privatization
Abstract: This paper assesses the effect of social security privatization
on the government budget, economic efficiency, national savings,
and the distribution of resources across generations. It is
shown that the benefits of privatization most often touted by
privatization advocates can be achieved by simply altering
taxes and social security pensions and leaving the basic
structure of social security unchanged. In the conclusion, two
simple arguments are given for why privatization might be a
good idea nonetheless.
Full paper (114 KB PDF)
| Full paper (234 KB Postscript)
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Last update: August 4, 1997