Do individuals have a duty to prepare for an uncertain future, and should government require them to do it? Entrepreneur and investor Crom Carmichael joins me to consider Social Security, the promises made to workers, and the difference between paying into a public system and owning a retirement account. We agree on the importance of preparation, but approach the institution from different directions.
Our conversation moves through property rights, private retirement savings, the obligations owed to people who have paid into the system, and the political difficulty of reform. I also raise a proposal to invest in each American from birth. We test its practical limits rather than present it as a finished solution. How can we preserve income security while making the system work better?
Read the essay and sources: https://joelkdouglas.com/2025/04/15/guest-crom-carmichael-and-social/
