Ascent to Bankruptcy

In 1990, Carmelo Mesa-Lago, the foremost authority on social security in Latin America, concluded that all of the regions programs were imperiled, especially those in the most advanced nations. His study of twenty countries, originally sponsored by the United Nations Economic Commission for Latin America, critically reviews major financial problems, low and uneven population coverage, erosion in benefits, increasing costs, and the impact of social security on development.In words that eerily echo current U.S. debates, Mesa-Lago analyzes virtually all social insurance programs: old age, disability and survivors pensions; health care; occupational hazards; family allowances; and unemployment. For social security specialists, this impressive study will serve as a comprehensive regional handbook on the legal, administrative, and financial features of Latin Americas programs. Students of comparative policy and applied economics will find Mesa-Lagos methodology, analytical framework, and policy recommendations invaluable.