View source for Shrugging off Atlas/social

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[[Category:Brad DeLong]]
[[Category:Libertarians understand economics better than people with other political positions. Especially liberals.]]
[[Category:Health Care]]
[[Category:Disability]]
[[Category:Social Security]]
[[Category:Mixed Economy]]
[[Category: Progressivism]]
[[Category:Market Failure]]
[[Category:Insurance Market Failures]]
[[Category:The New Deal]]
[[Category:We are producers, you and government are parasites.]]
{{Quote
| text = Large-scale government social-insurance programs are the best way we have found to achieve major and important public purposes. There has never been a private marketplace offering unemployment insurance. The unemployment insurance program works quite well: It gets money to people who have previously paid for it when they need it. Edward Filene’s welfare-capitalist notion that defined-benefit pensions offered by employers and more recent hopes that defined-contribution 401(k)s could provide old-age pensions more efficiently and effectively than Social Security have not covered themselves with glory over the past generation: Too many defined-benefit private pensions have not been paid out in full as promised, and too much wealth invested in 401(k)s has been skimmed off to enrich the princes of Wall Street. In health care, despite extraordinary administrative inefficiencies and little ability to improve quality and cost-effectiveness, the private insurance marketplace works—unless you are old, sick (and happen to be out of a job), or poor. Yet it is the old, the sick, and the poor who need health insurance most—hence, Medicare and Medicaid.
| cite = [[Brad DeLong]], "{{Link |Shrugging off Atlas}}"
}}