The ‘ownership society’

2005/03/01 at 09:16

The article that I mentioned in my previous post also contains the best description I’ve seen so far of G. W. Bush’s ‘ownership society‘ concept:

On the campaign trail this year, President Bush has made the case that people are better off relying on themselves, rather than on business or government, in case of trouble. Under the banner of the “Ownership Society,” the president has proposed a series of new, tax-break-heavy accounts to let families pay for their own retirements, healthcare and job training. He also has called for partially replacing the biggest of the government’s protective programs — Social Security — with privately held stock and bond accounts.
Such arrangements might help people build up their personal assets. But the approach also would expose them to even more economic risk than they’ve already taken on.