Private accounts can save Social Security (????)

posted by
May 2, 2011
by Arnold Kling  
Posted in Commentary

"I wrote in 2004 in an essay in favor of privatizing Social Security that what I called the 'stock market scenario' is bogus. The stock market scenario assumes that the stock prices will grow faster than the economy forever. This violates Stein's Law, which says that anything that can't go on forever, stops." (05/02/11)  

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