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Wiley InterScience

The Economic Journal

The Economic Journal

Volume 116 Issue 509, Pages F94 - F118

Published Online: 7 Feb 2006

Journal compilation © 2010 by the Royal Economic Society (Registered Charity No. 231508)



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Reforming Public Pensions in the US and the UK*
Peter Diamond 1
  1 Massachusetts Institute of Technology

  This is a longer version of a lecture given at the LSE on May 18, 2005. I have benefited from reading the report of the Pensions Commission and many papers from the Pensions Policy Institute and from comments from Tony Atkinson and Nick Barr. The material about the US has drawn heavily on my collaboration with Peter Orszag.

Copyright 2006 Royal Economic Society

ABSTRACT

This essay describes the current debate on reforming Social Security in the US, along with a brief description of how the programme works. Along the way it comments on the quality of some reform proposals as well as their political standing. Where issues are similar, some inferences are drawn for the UK. While the focus of this essay is the political debate, the debate and my analysis do draw on the academic literature, which is not surprising since academics have played a number of roles in the debate, making reform proposals, being on and staffing the commission appointed by President Bush, and working for the Bush administration.


DIGITAL OBJECT IDENTIFIER (DOI)
10.1111/j.1468-0297.2006.01066.x About DOI

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