The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Social Security

  • Laurence J. Kotlikoff
Reference work entry


Since Bismarck’s introduction of social security in Germany in 1891 a large number of countries have adopted social security systems. The growth of social security in the postwar period has been particularly rapid. In some countries, such as the United States, social security has become a major, if not the major fiscal institution. Because of its scale, method of finance, and role in providing insurance, social security may be greatly influencing the performance of a number of economies, particularly with respect to their rates of saving and employment.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Laurence J. Kotlikoff
    • 1
  1. 1.