On Fri, Aug 13, 2010 at 8:11 PM, Max Sawicky <[email protected]> wrote: > The really-existing global financial system, a.k.a. Capitalism, is a > different matter. > > We were talking about an intergenerational transfer system. > You could have such a system under socialism.
The conservative types seem to have two different objections to the current soc sec system. 1. The social insurance aspect. They would prefer retirements to be paid for only by what each individual saves in their own lifetime - as opposed to the retirement of a whole generation paid for with their collective savings. 2. The (approximately) pay as you go model. Conservative doctrine prefers that the saving come first, the consumption next. This doctrine is just plain silly in a world of plenitude and indeed unused resources like in today's US where there is no need to "save" or forego something today in order to spend tomorrow. -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
