President Bush wants to “privatize” a portion of the Social Security program. As part of that debate, we should remember that our experience with 401(k) plans provides some evidence about how well such a program might work. The results to date are not encouraging and should serve as a blinking yellow light. 401(k) plans, which […]
Alicia Munnell
Alicia H. Munnell, Peter F. Drucker Professor of Management Sciences at Boston College, was formerly a member of the president's Council of Economic Advisers and Assistant Secretary of the Treasury for Economic Policy.
Posted inSpecial Report
Future Retirees at Risk
Retirement security for middle-class Americans is at risk. First, the push to privatize Social Security has diverted attention from solving the program’s financing problems. Second, unchecked reliance on 401(k) plans has made employer-provided pensions less reliable. Third, the president’s “ownership society” initiative has led to policy proposals that undermine pension coverage and splinter the health-care […]
Posted inEconomic Policy
Behind the Numbers: The Great Surplus Debate
Three views of what to do with the budget surplus.
Posted inBooks
The Growth Puzzle
Here are two books with drastically different stories about growth and productivity in the American economy. The more persuasive of the two hasn’t got the attention it deserves.
