Social Security demonstrates that public systems are often better than their private counterparts. The problem is that government-managed systems are only as good as their stewards. The only cure is stronger democracy, so that citizens who value good programs vote to elect leaders pledged to defend them.
The status of negotiations between Greece and its official creditors -- the European Commission, the ECB and the IMF -- dominated headlines last week. At the core of the negotiations is a simple question: How much of an adjustment has to be made by Greece, how much has to be made by its official creditors?