What Is Social Insurance? Why Does It Matter?

For the last century and a half, and in a more focused way for the last century, the United States has wrestled with a dilemma common to all other industrial economies: how to capture the wealth generated by market economies while combating the inequality and insecurity which they leave in their wake. The answer, first pioneered on a national scale in Europe, was social insurance. Social insurance programs were nationally administered programs, with compulsory contributions, which provided...

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