Tuesday, November 04, 2008
Robert Solow is one of the most entertaining - and perceptive - economics writers I know. He also has a zany sense of humour but that is another story. This book review by Solow of Peter Gosselin, High Wire: The Precarious Financial Lives of American Families, provides an excellent critique of the perils of privatising social security. The general message - pay a little tax to protect the sick, the old, the unemployed, and the victims of natural disaster. This is a good social deal and typically best organised by the public sector.