- YOYO economics
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YOYO (You're On Your Own) economics is a term used to describe economic policy in which a government shifts responsibility for economic challenges on to individuals. Such challenges in the United States, for example, include managing globalization, maintaining Social Security, and lessening inequality. Thus, the government has a lessened role in the individual lives of its citizens.[1] Such policies are associated with the Ronald Reagan and George W. Bush administrations.[2]
Contents
Social Security
In the case of Social Security in the US, it is considered a YOYO policy to privatize Social Security. This would occur by means of individuals holding a private account invested in the stock market from which to draw a pension in later years.[2]
See also
- All Together Now
References
- ^ Tom Paine article
- ^ a b Bernstein, Jared. All Together Now:Common Sense for a Fair Economy.Berrett-Koehler Publishers.
External links
Categories:- Economics
- Economics and finance stubs
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