James Glassman's New Social Security Fix

Over at the invaluable Tech Central Station, occasional Reason Contributor Jim Glassman tips his hat to the power of rational argument when it comes to Social Security:

A few months ago I took the administration's position in a debate in Reason magazine with innovative economist Tyler Cowen of George Mason University. Sometimes, you learn something from such an encounter. I now see that Tyler was right, and what follows is adapted from his argument.

Read Glassman's full take here.

And read his Reason exchange with Cowen here.

Part of Glassman's motivation to rethink his original position has been the fecklessness of the Bush admin in selling private accounts:

Polls show the public split roughly 50-50 on personal accounts. But most of the support comes from young people, who are apathetic politically, and confidence in Bush's own "ability to make the right decisions about Social Security" is weak and falling -- down to just 27 percent last month, according to a CBS News/New York Times survey.