Long (44 page) article that I found fascinating
http://www.tcf.org/publications/retirementsecurity/ownershipsociety.pdf<snip> The privatized ownership society proposed by President Bush reduces social
insurance, exposes each of us to greater personal risk, and removes the
certainties of protection against life ’s worst outcomes. This ownership
vision is that of the frontier days when each person rose or fell individually and at the virtual whim of the marketplace. If smallpox strikes, tough it out.
If you have no job, keep looking. If your family is hungry, try grass soup.
If you are too old to work and have no family, beg. The vision that could
reintroduce us to such levels of risk clearly is not a real ownership society.
It is a risk society, one in which a few win big at the cost of the security and
happiness of us all. The very concept reeks of the incredible inequalities and
risks of the robber baron era.
The other version of an ownership society, the one that has built the
great American middle class, is that of social investment. In this version,
we all pitch in to protect one another against life ’s vagaries, and to pro-
mote meaningful opportunities for each of us through policies and pro-
grams that enable us to build the assets we need for security. Hard work
and personal betterment are still required, but government policies serve
to help make opportunity meaningful and fair, and federal programs pro-
vide guaranteed protections in the face of tragedy or at the dawn of old
age. It is only this latter version of the ownership society that has the
capacity to offer a fair opportunity to all .Its core principles have been
built and put in place over many decades ,and in a concentrated manner,
since the time of the New Deal. The years to come will provide America
with the opportunity to expand the ownership society to everyone, so
that all households can grow the assets that they will need for social
mobility and economic security. <snip>