The two papers that make up the core of this book address what is perhaps the most fundamental question in the current debate over Social Security: whether to shift, in part or even entirely, from today's pay-as-you-go system to one that is not just funded but also privatized in the sense that individuals would retain control over the investment of their funds and, therefore, personally bear the associated risk. John Shoven argues yes, Henry Aaron no. Theoretical issues such as the likely effects on saving behavior and capital formation figure importantly in this discussion. But so do a broad array of practical considerations such as the expense of fund management and accounting, questions about how the public would regard the fairness of any new system, and the impact of recent developments in the federal budget and the U.S. stock market.
The book also includes responses to both papers by four prominent economists―Robert J. Barro and David M. Cutler, of Harvard University; Alicia H. Munnell, of Boston College; and James Tobin, of Yale University―as well as Henry Aaron's and John Shoven's replies. The introductory remarks are by Benjamin M. Friedman.

Should the United States Privatize Social Security? (Alvin Hansen Symposium Series on Public Policy)

Business & Money

Shoven, Mr. John B.

Aaron, Henry J.

Economics

MIT Press]

The Real Deal: The History and Future of Social Security

Will the Social Security system founder as millions of baby boomers enter their retirement years? Is the frightening vision of an impoverished old age a glimpse into the real future for Americans of the next generation? The authors of this book put debates about Social Security reform into historical perspective, consider various reform ideas, and elaborate a proposal to ensure that the system can continue to meet the claims of the retired and the disabled. Sylvester J. Schieber and John B. Shoven, leading experts on retirement issues, set forth a carefully considered plan to change the way we finance Social Security and thereby secure its future viability. Exploring the history of the Social Security system from its origins during the Depression to its current troubled prospects, Schieber and Shoven analyze the program’s economic structure and introduce the remarkable personalities who influenced its evolution. The authors show how Social Security today differs from the program Franklin D. Roosevelt envisioned and how the shift to pay-as-you-go funding has led to the system’s current problems. Seen in historical context, some reform approaches are revealed as a renewal of attempts to fund Social Security through means that have repeatedly failed. The authors argue for mandatory private retirement savings accounts for workers?a proposal that would lighten retirement security burdens for future generations, avoid tax increases, and preserve the system’s progressivity. This book is essential reading not only for policymakers but for anyone else who wishes to understand what Social Security reform will mean for us as a nation and as individuals.

Politics & Social Sciences

Schieber, Mr. Sylvester J.

Sociology

Yale University Press

See the best price to sell, buy, or rent books by Shoven, Mr. John B.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Shoven, Mr. John B.