The U.S. Social Security program is in need of reform. One of the most popular solutions to the long-run financing problem is privatization. This paper examines key economic and social concerns about a shift from a public pay-as-you-go system to a privately-funded system. While a privatized system does reduce overall uncertainty and allows for greater returns, its increased risk and high transition costs make it an unreliable strategy.
Major Themes in Economics
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"Privatizing Social Security: Economic and Social Concerns,"
Major Themes in Economics, 23, 19-33.
Available at: https://scholarworks.uni.edu/mtie/vol23/iss1/3