Social Security - Economic Analysis and Reform Proposals

Explore the complexities of the U.S. Social Security system in this 72-minute lecture from Yale University's Financial Theory course. Delve into the system's creation by Franklin Roosevelt and Frances Perkins in 1938, and examine its current financial challenges. Analyze the conflicting views of Democrats and Republicans on Social Security's success and future. Understand how present value analysis clarifies the system's financial troubles and debunks popular misconceptions. Investigate the impact of baby boomers, the potential for privatization, and its effects on current retirees. Learn about the development of Social Security, economic imbalances, root causes of income transfer, and the debate surrounding privatization in this comprehensive examination of one of America's most controversial government programs.