In 2005, Congress debated giving U.S. workers private savings accounts to invest their Social Security contributions in the stock and bond markets. Sixteen later, we review how that would have worked out for workers.Other topics discussed include:How the public and private sectors are both critical for a functioning social security systemsWhich countries pay the highest social security benefitsHow have other privatized social security plans worked out around the worldHow workers prefer defined contribution plans even though they are worse off than if defined benefit plans were still widely availableHow worried should we be about aging populations and rising dependency ratiosWhy Social Security won't go awaySponsorsMadison Trust Self-Directed IRA - Go Here to Learn More and Get Your $100 Off Promo CodeFactor - Use code david50 to get 50% off your meal orderUse this link to post your job for free on LinkedIn JobsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter.Show NotesGreenspan "There is nothing to prevent the government from creating as much money as it wants."—YouTubeEstimated Financial Effects of the "Social Security Personal Savings Guarantee and Prosperity Act of 2005" by Stephen C. Goss—Social Security AdministrationSocial Security Quick Calculator—Social Security AdministrationThe average 401(k) balance by age by Pau Deer—EmpowerCBO’s 2022 Long-Term Projections for Social Security—Congressional Budget OfficePolicy Basics: Top Ten Facts about Social Security—Center On Budget and Policy PrioritiesEvaluation of Four Decades of Pension Privatization in Latin America, 1980-2020: Promises and Reality by Carmelo Mesa-Lago—SSRNPopulation Age Structure and Secular Secular Stagnation: The Long Run Evidence by Joseph Kopecky—SSRNDoes Human Capital Compensate for Depopulation? by M. Siskova, Michael Kuhn, Klaus Prettner, Alexia Fürnkranz-Prskawetz—SSRNHow Much Do Public Employees Value Defined Benefit versus Defined Contribution Retirement Benefits? by Oliver Giesecke and Joshua D. Rauh—SSRNSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.