Reforming Public Pensions in the US and the UK

This essay describes the current debate on reforming Social Security in the US, along with a brief description of how the programme works. Along the way it comments on the quality of some reform proposals as well as their political standing. Where issues are similar, some inferences are drawn for the UK. While the focus of this essay is the political debate, the debate and my analysis do draw on the academic literature, which is not surprising since academics have played a number of roles in the debate, making reform proposals, being on and staffing the commission appointed by President Bush, and working for the Bush administration. Copyright 2006 Royal Economic Society.