What about Privatizing Social Security?

Most, Bruce W.
August 1996
Journal of Financial Planning;Aug1996, Vol. 9 Issue 4, p38
Academic Journal
The article focuses on privatization of Social Security. Whether Social Security will be privatized, is still doubtful says Richard Thau, executive director of the Third Millennium Generation X advocacy group known for its Social Security and UFO survey. He says that there cannot be a transition from a pay-as-you-go system to a funded private system without incurring a massive amount of government debt. Most experts concur that the Social Security system needs fixing. Most planners would like to see the current system scrapped and fully or at least partially privatized. There are some organizations that adamantly opposes privatization of Social Security. Richard Thau maintains that there is no savings ethic in this country. If someone suddenly give people responsibility for saving thousands and thousands of dollars a year, it would create all kinds of pressures on people who normally would not know what to do with all that money. That's why Thau advocates a partial privatization in the near term.


Related Articles

  • Social Security privatization raises many issues. Scott, Andrew // Fairfield County Business Journal;1/24/2005, Vol. 44 Issue 4, p21 

    Reports that U.S. President George W. Bush plans to partly privatize Social Security. Reactions of Zachary Weinberger, president of Total HR Services LLC, to Bush's Social Security privatization plans; Benefits of financial services companies from the privatization of Social Security.

  • Change of control and the success of China's share-issue privatization. ROUSSEAU, Peter L.; XIAO, Sheng // China Economic Review (1043951X);Dec2008, Vol. 19 Issue 4, p605 

    Abstract: Using two newly available datasets of exchange-listed firms in China covering the period from 1994 to 2003, we test if share-issue privatization, defined here as a change of corporate control from the State to private owners rather than the IPO event used in earlier studies, improved...

  • From Animals to Airplanes: Privatization in Mongolia.  // Foreign Affairs;May/Jun2005, Vol. 84 Issue 3, Following p62 

    Mongolia's evolution from singly party rule towards an open market has been largely driven by an ambitious program of privatization. How the privatization program is not just about raising capital.

  • Privatization is not the Key to Successful Transition. Spechler, Martin C. // Challenge (05775132);Jan/Feb96, Vol. 39 Issue 1, p48 

    This article argues that privatization of state-owned industries in Eastern Europe and Russia may not be the solution for development in the region. Since the fall of communism, most Western economists and international agencies have advised East and Central European countries to privatize their...

  • PRIVATIZACIJA, DRŽAVNO VLASNIÅ TVO I POSLOVNI REZULTAT PODUZEĆA. Crnković, Boris; Požega, Željko; Briševac, Jelena // Ekonomski Vjesnik;2010, Vol. 23 Issue 2, p333 

    The standpoints on state ownership on the one hand and private ownership on the other changed frequently in the past. Nevertheless, the strengthening of the role of a state in economy – brought about by the big economic crisis in the late 1920s and 1930s and continuing after the Second...

  • THE LATIN WAY TO BOOST SAVINGS. Woods, Wilton // Fortune;11/1/1993, Vol. 128 Issue 11, p26 

    Suggests radical measures to the U.S. to raise savings and improve the social security systems. Information on the privatization policy of the Latin American social security systems; Nature of the privatization policy; Reference to the Chilean savings funds; News of Argentina readying herself...

  • How is life after privatisation?  // OECD Economic Surveys: Poland;Apr2001, Vol. 2001 Issue 10, p170 

    Deals with the outcome of privatization efforts in Poland as of 2001. Bias in the population of privatized firms; Reason for the limited evidence of massive employment adjustments in privatized firms; Downside of incentive-enhancing insider control.

  • Ideology plays no part in privatisation. Ben-Ami, Daniel // Fund Strategy;5/9/2011, p5 

    In this article, the author comments on the issue concerning the misconception of the significance of privatisation in the sale of state assets. He argues that the ideological motives of many countries to decrease fiscal deficits are considered as the biggest misconception of privatisation....

  • An FDI Magnet.  // Africa Monitor: North Africa Monitor;Dec2004, Vol. 9 Issue 12, p2 

    The article presents a report on privatization in Africa. Privatisation receipts have disappointed this year, but this is not a signal that Rabat is reluctant to liberalise the economy. Rather, the Kingdom has long been one of the most open economies in North Africa. Indeed, according to UN's...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics