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- W1543281817 abstract "This paper discusses five examples of the conventional wisdom that has often been expressed in the social security debate, even among academic economists. These are: 1. The major problem in most social security systems is that of demography: people simply live too long. 2. Disregarding the issue of demography, a Pay-As-You-Go system is inferior to a fully funded system since the former usually has a lower rate of return. 3. Disregarding the porfolio aspect (which might favor a PAYG system), a funded system dominates a PAYG system in a world of certainty. 4. The social security system is a suitable isntrument for intergenerational risk-sharing. 5. The government is a safe and reliable provider of insurance." @default.
- W1543281817 created "2016-06-24" @default.
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- W1543281817 date "2000-06-01" @default.
- W1543281817 modified "2023-09-27" @default.
- W1543281817 title "Five Fallacies in the Social Security Debate" @default.
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