Milton Friedman recollections on Social Security Reform

This is an interesting piece published on the SFGate regarding Milton Friedman's recollections about the begginning of a movement for Social security reform. He talked about the proposition to abolish Social Security first in 1962, with the publication of "Capitalism and Freedom", not because it was not efficient but because it was inmoral, a huge Ponzi scheeme run by the government. What I found fascinating and is not mentioned on the interview was that I always wondered how the chileans (Piñera among others) came up with the idea of changing their Social security system and to turn it into a privately funded one. Tweenty years later it has been so succesful that it has become the example for reform in the developed world. In spanish we say nobody is a prophet in their own land and I think this perfectly applies to Milton Friedman. Only if he had been heard in the USA 20 years ago like the Chileans did, how different things would be. (thanks to Marginal Revolution)

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