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Social Security

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A man who is forced to provide of his own account for his old age must save a part of his income or take out an insurance policy... Such a man is more likely to get an idea of the economic problems of his country than a man whom a pension scheme seemingly relieves of all worries.Planning for Freedomp. 92Social Security
By weakening or completely destroying the will to be well and able to work, social insurance creates illness and inability to work; it produces the habit of complaining... it is an institution which tends to encourage disease, not to say accidents, and to intensify considerably the physical and psychic results of accidents and illnesses. As a social institution it makes a people sick bodily and mentally or at least helps to multiply, lengthen, and intensify disease.Socialismp. 432Social Security
It is no accident that Germany, the country that inaugurated the social security system, was the cradle of both varieties of modern disparagement of democracy, the Marxian as well as the non-Marxian.Human Actionp. 613; p. 617Social Security
Ultimately the granting of pensions amounts to a restriction of the wage earners freedom to use his total income according to his own designs.Planning for Freedomp. 86Social Security
Whether such a system of social security is a good or a bad policy is essentially a political problem. One may try to justify it by declaring that the wage earners lack the insight and the moral strength to provide spontaneously for their own future. But then it is not easy to silence the voices of those who ask whether it is not paradoxical to entrust the nation's welfare to the decisions of voters whom the law itself considers incapable of managing their own affairs; whether it is not absurd to make those people supreme in the conduct of government who are manifestly in need of a guardian to prevent them from spending their own income foolishly.Human Actionp. 613; p. 617Social Security
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