Acton Institute Powerblog

Ponnuru on Ponzi and Pyramids

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Ramesh Ponnuru says Social Security is worse than a Ponzi scheme.

He’s right. It’s more like an inter-generational pyramid scheme, a pyramid tipped on its side…


To be sustainable, over time (T) it has to take more from more people (thus a three-dimensional pyramid rather than a two-dimensional triangle. It’s really exponential rather than multiplicative).

Social Security. In case you forgot, it still needs fixing. This Christmas, think about the rather unpleasant gift we’ll be leaving the generations that follow in the form of unsustainable and unfunded “entitlements.”

Jordan J. Ballor Jordan J. Ballor (Dr. theol., University of Zurich; Ph.D., Calvin Theological Seminary) is a senior research fellow and director of publishing at the Acton Institute for the Study of Religion & Liberty. He is also a postdoctoral researcher in theology and economics at the VU University Amsterdam as part of the "What Good Markets Are Good For" project. He is author of Get Your Hands Dirty: Essays on Christian Social Thought (and Action) (Wipf & Stock, 2013), Covenant, Causality, and Law: A Study in the Theology of Wolfgang Musculus (Vandenhoeck & Ruprecht, 2012) and Ecumenical Babel: Confusing Economic Ideology and the Church's Social Witness (Christian's Library Press, 2010), as well as editor of numerous works, including Abraham Kuyper Collected Works in Public Theology. Jordan is also associate director of the Junius Institute for Digital Reformation Research at Calvin Theological Seminary.

Comments

  • John Campbell

    Of course abortion is not the only issue, and of course none of the other issues rise to the level of abortion. But the fundamental issue remains what to do about it. The legal agenda to restrict it is weak, and a legal agenda to ciminalize it would almost certainly increase the level of injustice since it would not stop abortion, only drive it underground. So why not start a drive for capital campaigns to create shelters and pregnancy help centers everywhere? If the issues are that people choose abortion because they know or see no alternative, then we should be focusing on creating as many highly visible alternatives as possible.