This gap poses a problem for everyone, not just people who will face near-poverty when they can't work anymore. Does that merit forcing people to save more? Retirement in America is supposed to be financed by three sources: Social Security, employer pensions, and additional saving ... Another, potentially more palatable, alternative to forced saving is nudging. That is what Britain has adopted. The British government requires firms to automatically enroll their employees in a pension account and put 8 percent of their salary into it. – Reuters
Dominant Social Theme: Let's nudge citizens into saving. The government needs to do it.
Free-Market Analysis: Step by step, government organizes savings for private citizens. Each step may seem logical at the time but the cumulative effect is to strip individuals of any ability to survive outside of the womb of the nanny state.
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