Bryan Caplan wrote:
> > It also suggests that most people might stay with social security
> > if it were made voluntary - at least for a while.
>This is a really neat point, especially because I'm pretty sure it's
>wrong.  I can't imagine many people who are already comfortable with
>personal investing sticking with SS.  At least measured in dollars
>rather than people, I'd expect more than 50% pullout from SS within a

My intuition agrees with you, at least given a five year time-scale.
That is, if the default was to stay in SS, and people had to send in
some form to opt out, then within a few years most people would, even
though they won't do a similar think regarding their companies plan.
This, with the default-as-informative-endorsement theory, suggests
that people trust their government less than their company.

Asst. Prof. Economics, George Mason University
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