Privatizing Social Security: Beyond the Theory
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For years policy experts have debated the merits of privatizing Social Security. Now, in the wake of the 2000 presidential election, there is a unique opportunity to translate theory into a real working system of individually owned, privately invested accounts. With the exit polls showing 57% support for private investment of Social Security taxes, George W. Bush is entering the presidency with a firm mandate to reform Social Security and has promised to make the issue a top priority for his administration.
On February 6–7, 2001, the Cato Institute will host Privatizing Social Security: Beyond the Theory at its Washington, D.C., headquarters. This conference will examine why we need to privatize Social Security and how to do so, including how to finance the transition; how to regulate and administer individual accounts; how privatization will affect women, the poor, and minorities; and the politics of privatization.
Invited speakers include Donald Marron, Thomas Saving, Martin Feldstein, Peter Ferrara, José Piñera, Michael Tanner, John Zogby, Eloise Anderson, Chuck Blahous, Shane Chalke, Wade Dokken, Milton Ezrati, Jagadeesh Gokhale, Bill McInturff, William Shipman, and Thomas Siems.
Since 1979 the Cato Institute has been seeking alternatives to the current Social Security system and has published more than 40 books, articles, and reports outlining the program’s problems and crafting innovative policy solutions.
|Tuesday, February 6, 2001|
|8:00 — 9:00 a.m.||Registration|
|9:00 — 9:15 a.m.|| Welcoming Remarks
President, Cato Institute
|9:15 — 10:00 a.m.|| Keynote Address
Martin Feldstein, Harvard University/National Bureau of Economic Research
|10:00 — 10:15 a.m.||Break|
|10:15 — 11:30 a.m.|| Why Privatize Social Security?
Moderator: Bill Wilson, United Savers Alliance.
Charles Rounds, Suffolk University Law School
|11:30 a.m. — 12:15 p.m.||Lunch|
|12:15 — 1:00 p.m.|| Luncheon Remarks
Donald Marron, PaineWebber
|1:00 — 2:15 p.m.|| Women, Minorities and the Poor
Moderator: Sam Beard, Economic Security 2000
Star Parker, Coalition on Urban Renewal and Education (CURE)
|2:15 — 2:30 p.m.||Break|
|2:30 — 3:15 p.m.|| World Round‐Up
José Piñera, Cato Institute, “Toward A World of Worker‐Capitalists,” (PDF, 21 pp, 49 kb)
|3:15 — 4:00 p.m.|| A Bipartisan Approach to Social Security Reform
Introduction: Wade Dokken, American Skandia
|4:00 — 5:00 p.m.||Reception|
|Wednesday, February 7, 2001|
|8:00 — 9:00 a.m.||Registration|
|9:00 — 9:10 a.m.|| Opening Remarks
Edward Crane, President, Cato Institute
|9:10 a.m. — 10:15 a.m.|| The Politics of Privatization
Moderator: Deroy Murdock, syndicated columnist
Michael Barone, U.S. News & World Report
|10:15 — 10:30 a.m.||Break|
|10:30 — 11:45 a.m.|| Making the Transition
Moderator: William Niskanen, Cato Institute
Andrew Samwick, Dartmouth College
|11:45 a.m. — 12:30 p.m.||Lunch|
|12:30 — 1:15 p.m.|| Luncheon Address
Thomas Saving, Texas A&M/Social Security Board of Trustees
|1:15 — 2:30 p.m.|| Risk and Regulation
Moderator: Andrew Biggs, Cato Institute
Shane Chalke, AnnuityNet.Com, “Private Sector Alternatives Mitigating Participant Risk,” (PDF, 7 pp, 225 kb)
|2:30 — 2:45 p.m.||Break|
|2:45 — 4:00 p.m.|| Administering Individual Accounts
Moderator: Charles Blahous, Alliance for Worker Retirement Security
Daniel Lederman, Synergy Group Inc., “Operating Models for Pension System Reforms,” (PDF, 39 pp, 197 kb)
|4:00 — 4:15 p.m.|| Closing Remarks
Michael Tanner, Cato Institute