Mises Daily
Author:
Carl F. Horowitz
Online Publish Date:
on paper anyway, is a purely self-financing edifice with sturdy firewalls against failure. As an insurance agency, it derives much of its income through $800 million annually in recent years. It also invests in financial markets, especially fixed-income funds, and the result has been the buildup of a to defined-contribution plans are tax-deductible; 2) the long-stagnant stock market had begun a long swing upward starting in 1982; and 3) the habit of lifelong