Science vs. Social Security
By Arnold Kling
In an essay called Will Science Save Social Security?, I write,
Overall, if events play out over the next quarter century as the technology optimists predict, then GDP will be so astronomical that the costs of Social Security and Medicare will be dwarfed. In such a world we may face difficult philosophical issues, but maintaining material living standards will not be a challenge.
I still believe that the safest thing to do is to reform Social Security and Medicare, in case the technology optimists prove incorrect. However, if we fail to rein in entitlement programs today, we might be lucky enough to have science bail us out tomorrow.
For Discussion. What constraints would impede the technological revolution from achieving the results expected by the optimists?