Even More on Social Security Privatization

I’m one who thinks that the space allotted to op-ed columns in The New York Times is too small for some issues.  One can, as Krugman does, have several columns on the same topic.  But it may work better with less frequent but longer pieces for each columnist, as Brad DeLong once suggested.  In either case, here’s a longer piece by Krugman on Social Security in The Economists’ Voice, the sort of thing I had in mind–though some may and do object to the focus on the motivations of the other side, seeing it as unfair filler by the opposition.

“As I’ve described it, the case for privatization is a mix of strange and inconsistent budget doctrines, bad economics, dubious political economy, and science fiction.  What’s wrong with these people?

The answer is definitely not that they are stupid. In fact, the case made by the privatizers is fiendishly ingenious in its Jesuitical logic, its persuasiveness to the unprepared mind.

But many of the people supporting privatization have to know better. Why, then, don’t they say so? Because Social Security privatization is a solution in search of a problem.”