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Five Fallacies in the Social Security Debate
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
2000 (English)Report (Other academic)
Abstract [en]

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.

Place, publisher, year, edition, pages
Stockholm: IIES , 2000. , 24 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 686
National Category
URN: urn:nbn:se:su:diva-41160OAI: diva2:328563
Available from: 2010-07-05 Created: 2010-07-05 Last updated: 2010-08-16Bibliographically approved

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Persson, Mats
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