The most notable of these was the Singapore system – which is probably the most successful social security system in the world. In fact, one in every six households in the country is a millionaire household. read more
Stable. Again, quite unlike a Ponzi scheme. That essential stability is, perhaps, the most obvious refutation of the Ponzi scheme argument. The Social Security Administration puts it well on its Web site. “The first modern social insurance program began in Germany in 1889 and has been in continuous operation for more than 100 years. read more