The Public Interest

Toward a reform of social security

Martin S. Feldstein

Summer 1975

SOCIAL security was the most important government innovation of the Great Depression. Forty years later, nearly every aspect of our economic life has changed dramatically. Yet the basic structure of our social security program has not been reexamined and reshaped to fit the economic conditions of today. Instead, the original program has simply continued to expand at an ever increasing rate.

 

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