Privatizing Social Security
edited by Martin Feldstein
University of Chicago Press, 1998
Cloth: 978-0-226-24101-2 | Paper: 978-0-226-24102-9 | Electronic: 978-0-226-24182-1


This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts.

"Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal

"[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest




I. Country Studies

1. The Chilean Pension Reform: A Pioneering Program

2. Australia’s Retirement Income System

3. The Roles of the Public and Private Sectors in the U.K. Pension System

4. Pension System Reform: The Mexican Case

5. The Shift to a Funded Social Security System: The Case of Argentina

II. Privatization Issues For The United States

6. The Transition Path in Privatizing Social Security

7. Simulating the Privatization of Social Security in General Equilibrium

8. Privatizing Social Security: First-Round Effects of a Generic, Voluntary, Privatized U.S. Social Security System

9. Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement

10. Administrative Costs in Public and Private Retirement Systems


Author Index

Subject Index