Rethinking Social Insurance
60 Pages Posted: 18 May 2005 Last revised: 29 Sep 2022
Date Written: April 2005
Abstract
This paper begins by discussing the nature of and rationale for social insurance programs. I then consider three political principles and four economic principles that could guide the design and reform of social insurance programs. These ideas are then applied to unemployment insurance, Social Security pensions, health insurance and Medicare. A common theme is the advantage of incorporating investment based personal accounts in each of these programs.
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