American RadioWorks |
Photos: Stephen Smith

Thirsty Planet

Scientists say most people on Earth will first experience climate change in terms of water -- either too much or too little. This documentary explores some of the most pressing water problems and some innovative solutions by visiting two countries where water issues are critical: India and Israel. A vast and ecologically diverse country, India suffers from water problems found across the globe: flooding, drought, pollution, and lack of access by the poor. In Israel, a combination of cutting-edge technology and sweeping government policy has largely solved the nation's long struggle with water scarcity. But the benefits of abundant water are not shared equally throughout Israel and the West Bank.

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in collaboration with Spotlight on Poverty and Opportunity

Privatize Social Security (like Chile has)

File under: personalfinance, taxes

0 (0 votes)

From: Adakin V., Charleston, SC

Please note that "poverty" is relative. According to "The Economist" magazine, what is called poverty in the United States is equal to the same standard of living that the "average" worker in Europe has.

Take a look at this:

http://www.etftrends.com/2009/06/7-reasons-like-chile-its-etf/

Please note item six: "Chile boasts a poverty rate of 13%, down from 39% in 1990."

So what happened in Chile over the past 20 years?

What happened was the maturity of Chile's social security paradigm, where individuals own their accounts -- they invest what would have gone to government-run Social Security into a private retirement account. And when a worker dies, the lifetime of accrued contributions and compounding interest is part of his or her estate, going to heirs and favorite charities.

Just think of the macro-economic benefits to a young family when grandparents die and leave them with enough to pay off their mortgage, or fund their kid's college, or allow them to buy that business franchise, or invest in whatever opportunity avails itself. Just think of the young couple whose grandparents die when they are in their 20s or 30s, and whose parents die when they are in their 50s or 60s. These periodic slugs of capital are outside of this couple's normal earnings. And it's these slugs of capital that blossom into real wealth creation once that family's normal everyday needs are satisfied.

The Chilean Social Security paradigm is the best solution to systemic poverty, because it allows multi-generational wealth accrual.


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American RadioWorks |
Photos: Stephen Smith

Thirsty Planet

Scientists say most people on Earth will first experience climate change in terms of water -- either too much or too little. This documentary explores some of the most pressing water problems and some innovative solutions by visiting two countries where water issues are critical: India and Israel. A vast and ecologically diverse country, India suffers from water problems found across the globe: flooding, drought, pollution, and lack of access by the poor. In Israel, a combination of cutting-edge technology and sweeping government policy has largely solved the nation's long struggle with water scarcity. But the benefits of abundant water are not shared equally throughout Israel and the West Bank.

Recent Posts

  • 06.17.16

    Fighting for ‘Our School’

    What's the role of a school in a rural town? We begin our series on rural schools by looking at a state where the fight has been particularly fierce: Vermont.
  • 06.09.16

    How Do We Learn Better: Digital or Print?

    Do you understand facts better online or in print? New research has massive implications for teaching in the 21st century.
  • 06.02.16

    Theological Schools Feel the Squeeze

    Theological schools are straining for cash as they suffer from drops in enrollment over the past few years. Our guest tells us how they are dealing with it.
  • 05.26.16

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    Our guest says the so-called 'invisible tax' on teachers of color leads to burnout at a time when teachers of color are already leaving the profession more quickly than their white colleagues.