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Social Security : The Phony Crisis. Library dressing. Baker, Weisbrot
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eBay item number:332359893011
Item specifics
- Condition
- ISBN
- 9780226035444
About this product
Product Identifiers
Publisher
University of Chicago Press
ISBN-10
0226035441
ISBN-13
9780226035444
eBay Product ID (ePID)
102851758
Product Key Features
Number of Pages
199 Pages
Language
English
Publication Name
Social Security : the Phony Crisis
Publication Year
2000
Subject
Public Policy / Social Security, Public Policy / Economic Policy
Type
Textbook
Subject Area
Political Science
Format
Hardcover
Dimensions
Item Height
0.1 in
Item Weight
12.3 Oz
Item Length
0.9 in
Item Width
0.6 in
Additional Product Features
Intended Audience
Scholarly & Professional
LCCN
99-028058
Dewey Edition
21
Illustrated
Yes
Dewey Decimal
368.4/301/0973
Table Of Content
Foreword Acknowledgments Chapter 1: Introduction Social Security and Social Insurance The Politics of Non-Issues Chapter 2: Social Security and its Critics Social Security's Finances The Disappearing Trust Fund Demography as Destiny Unfunded Liabilities, Ponzi Schemes, and Other Rhetorical Devices Chapter 3: Generating Phony Wars With Generational Accounting How Generational Accounting Works How Generational Accounting Cooks the Books Discounting Our Children's Futures Will Education Really Impoverish Our Children? If Health Care Costs Destroy the Economy, What Will Happen to Tax Rates? What the Recount Shows How Will Our Children Really Fare? Rising Incomes, Changing Demographics The Base Case What the Real Generational Accounts Show Chapter 4: Entitlements for the Elderly: Medicare "Reform" The Wrong Direction The Wrong Incentives Medicare and Health Care Reform Chapter 5: The Debate Over the Consumer Price Index What Difference Does 1.1 Percent Make? The Boskin Arithmetic The Evidence for an Overstated CPI Substitution Bias Retail Outlet Substitution Bias Quality and New Goods Bias Sources of Understated Inflation in the CPI Inflation for Whom? The Implications of an Overstated CPI The Boskin Commission's Failed Case Chapter 6: The Glories of Privatization A Happy Market, an Unhappy Economy Is There a Way to Beat 3.5 Percent? The Returns From Privatization: Going Down From 3.5 Percent A Modicum of Privatization Chapter 7: The Advisory Council and Other Fixes Three Ideas From the Advisory Council Investing the Trust Fund Other Regressive Cuts Proposals for Means Testing Benefits A Worsening Problem? The Way to Real Reform Chapter 8: The Debate Over National Saving An Economist's View of Saving How Saving Generates Investment Finding a Recipe For Higher Saving The Impact of Investment on Economic Growth Saving Will Not Make Us Rich Chapter 9: Will the Age Wave Lift All Boats? The Basic Features of the Future The State of the Nation's Health The Many Homes of the Future Benefits of the Information Boom Opportunities in Education The Future of Work The Downside to the Next Century Fix the Problems, not Social Security Chapter 10: An Honest Debate Appendix: The Feldstein-Samwick Plan References
Synopsis
Is it true that the Social Security system is in serious trouble and must be repaired? As baby boomers begin to retire, will they inevitably, by force of their sheer numbers, bankrupt the system? Is Social Security a big Ponzi scheme that will leave future generations with little to show for their lifetime of contributions? Is the only way to solve the Social Security crisis through radical changes like privatization or bolstering it with massive new taxes? According to the authors of this important new study, the answer to these questions is a resounding no. In Social Security: The Phony Crisis , economists Dean Baker and Mark Weisbrot argue that there is no economic, demographic, or actuarial basis for the widespread belief that the program needs to be fixed. As the authors emphasize, there is virtually no disagreement about the facts of Social Security's finances, or even the projections for its future. Rather, the Social Security debate has been foundering on misconceptions, confusion, and lack of agreement on the meaning of crucial terms. The authors also take on related issues: that privatization would help save Social Security, that America has a pressing need to increase its national savings, and that future generations will suffer from the costs--especially for health care--of supporting a growing elderly population. As New York Times columnist Fred Brock recently wrote, "So-called reform of the Social Security system is looking more and more like a solution in search of a problem." In this accessible and insightful work, Baker and Weisbrot seek to cut through some of the myths and fallacies surrounding this crucial policy issue. "Dean Baker and Mark Weisbrot have no trouble at all demonstrating that even on highly conservative assumptions about economic growth, the much-forecast insolvency of the Social Security system by about 2030 is most unlikely to happen then, if indeed ever."-- The Economist "The authors challenge basic assumptions with vigor and intelligence. . . . An absolutely relevant and important analysis, presented with force and clarity, that asks, basically, what kind of a nation we really are."-- Kirkus Reviews "Proponents--like George W. Bush--of Social Security privatization . . . typically ignore prospects for a stagnant or falling stock market. In Social Security: The Phony Crisis, Baker and Weisbrot] show how a falling stock market could place pressure on both future Social Security payments and privatization schemes because earnings from the trust fund could actually fall."--Jeff Madrick, New York Review of Books, Is it true that the Social Security system is in serious trouble and must be repaired? As baby boomers begin to retire, will they inevitably, by force of their sheer numbers, bankrupt the system? Is Social Security a big Ponzi scheme that will leave future generations with little to show for their lifetime of contributions? Is the only way to solve the Social Security crisis through radical changes like privatization or bolstering it with massive new taxes? According to the authors of this important new study, the answer to these questions is a resounding no. In Social Security: The Phony Crisis , economists Dean Baker and Mark Weisbrot argue that there is no economic, demographic, or actuarial basis for the widespread belief that the program needs to be fixed. As the authors emphasize, there is virtually no disagreement about the facts of Social Security's finances, or even the projections for its future. Rather, the Social Security debate has been foundering on misconceptions, confusion, and lack of agreement on the meaning of crucial terms. The authors also take on related issues: that privatization would help save Social Security, that America has a pressing need to increase its national savings, and that future generations will suffer from the costs--especially for health care--of supporting a growing elderly population. As New York Times columnist Fred Brock recently wrote, "So-called reform of the Social Security system is looking more and more like a solution in search of a problem." In this accessible and insightful work, Baker and Weisbrot seek to cut through some of the myths and fallacies surrounding this crucial policy issue. "Dean Baker and Mark Weisbrot have no trouble at all demonstrating that even on highly conservative assumptions about economic growth, the much-forecast insolvency of the Social Security system by about 2030 is most unlikely to happen then, if indeed ever."-- The Economist "The authors challenge basic assumptions with vigor and intelligence. . . . An absolutely relevant and important analysis, presented with force and clarity, that asks, basically, what kind of a nation we really are."-- Kirkus Reviews "Proponents--like George W. Bush--of Social Security privatization . . . typically ignore prospects for a stagnant or falling stock market. In Social Security: The Phony Crisis, [Baker and Weisbrot] show how a falling stock market could place pressure on both future Social Security payments and privatization schemes because earnings from the trust fund could actually fall."--Jeff Madrick, New York Review of Books
LC Classification Number
HD7125.B2785 1999
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