By Arnold Kling
John Hawkins’ interview of Milton Friedman touches on many subjects. Friedman is not terribly worried about Social Security.
we’re a very strong country, lots of able people, lots of active entrepreneurs, and so the Social Security system will be a burden, but it won’t destroy the country.
I think it will be changed of course. I think there is a great and growing pressure towards privatizing Social Security, converting it into individual accounts. We’ve been moving that way indirectly through 401ks and the equivalent retirement accounts. I think Mr. Bush will go back to his emphasis on privatizing Social Security. I think there’s a good chance it can be done.
For Discussion. Of the following policies that Friedman advocates, which do you think will be tried first: school vouchers, drug decriminalization, or Social Security privatization?