Monday, December 27, 2004

It's Academic, but...

I agree with Froomkin.

More generally, I think the potential costs of any mandatory private savings plan (even as a complement to, not substitute for Social Security) outweigh their potential benefits as public policy. But, I think in theory a responsible Congress (in the United States of Fantasyland) would be more likely to devise a trouble-free mandatory 401Kish plan than become a trouble-free direct player in the equities market.