A Social Security Lesson From ArgentinaGary S. Becker
Since 1989, Argentina has rapidly introduced revolutionary reforms that have greatly reduced government regulations and controls. Privatization of its social security system is the most important step of the past couple of years. Argentina's experience demonstrates that, even under very difficult economic circumstances, a nation can successfully convert from a pay-as-you-go (PAYG) social security system to a competitive private pension plan with individual retirement accounts.
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