The Alternatives to Social Security

Even the most hardcore free market economists would see this as a negative outcome. Social security is kind of like the price we pay to ensure that if we lose our job or get sick or injured, that we won't starve. The same kind of private sector switcheroo can be done with almost anything that a modern government provides. This is similar in many ways to the specific expense allocation we saw in Singapore earlier, just dialed all the way up to the extreme.