Privatization Of Public-Sector Pensions
The U.S. Navy Pension Fund, 1800-1842
By Robert Clark, Lee A. Craig, Jack Wilson
Social security privatization holds the promise of higher returnsand commensurably higher risk. But if the history of the naval pension fund is any indication, Congress may succumb to the urge to shift that risk to taxpayers rather than keep risk linked to return.
|Other Independent Review articles by Lee A. Craig|
|Fall 2019||The High Cost of Good Intentions:A History of U.S. Federal Entitlement Programs|