Journal of Economic Literature
Book Reviews
2026-08-28
Zvi Bodie of Boston University reviews “Social Security and the Stock Market: How the Pursuit of Market Magic Shapes the System” by Alicia H. Munnell, Steven A. Sass,. The EconLit Abstract of the reviewed work begins “Explores the use of equities to help solve the Social Security financing problem. Discusses the creation of modern retirement income systems; the retirement income challenge facing the United States; lessons from the United Kingdom--privatization and a safety net; lessons from Australia--mandating “add-on” individual accounts; and lessons from Canada--investing the trust fund in equities. Munnell is Director of the Center for Retirement Research at Boston College and Peter F. Drucker Professor in Management Sciences at Boston College's Carroll School of Management. Sass is Associate Director for Research at the Center for Retirement Research at Boston College. Index.”