Social Security Reform: Economic Issues
Description:
The President has indicated that Social Security reform will be a major issue in
the 109th Congress. While Social Security originated as a Depression-era program
aimed at alleviating the economic circumstances of the elderly, social insurance also
corrects market failures in the annuity market (adverse selection), prevents free-riders
(requires workers to provide for their retirement), spreads risk, and may correct for
failure to optimize by shortsighted individuals.
Date:
January 14, 2005
Creator:
Gravelle, Jane G. & Labonte, Marc
Item Type:
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Partner:
UNT Libraries Government Documents Department