Word: feldstein
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However, in the case of Feldstein's social security findings, it is not clear that a consensus yet exists...
Says Professor of Economics Lawrence H. Summers, once a student of Feldstein, "I don't think the evidence either way [on the effects of social security on private savings] is absolutely conclusive...
...says Feldstein, "There is controversy about any theory or empirical study that has policy significance...The closer you get to the frontier on any specific subject, the more likely you are to get controversy...
...Feldstein, who returned to Harvard last year after serving as the chairman of President Reagan's Council of Economic Advisors, has been criticized outside the University as well since he first published his social security findings...
...Feldstein's conclusions had wide-ranging implications for national policy at a time when economists and public officials were worried about a major recession and widely perceived a need to restructure the aging social security system which was faced with serious financing problems...