This is also the core of the social security privatization movement. SS is a visible example of government helping people, it's very popular, and it's highly efficient.Is there a reason that we are allergice to the idea that different approaches work better for different problems? A screwdriver is a very useful tool but sometimes you need a saw instead. I would think that adaptability is the most important feature of a society or an economy. But for some reason we refocus adaptability to be entirely framed as competition between private firms without asking hard questions about where different approaches might have a comparative advantage.
(Well, the ideological affront of it all, plus what a sudden, massive infusion of taxpayer cash into the stock market would do for people who already have large holdings. Ahem.)
Gov't does a lot of things poorly, but social security, like higher ed, isn't one of 'em.
I find it mystifying that efficiency is so under-rated in the discourse.