Using the Economics of Social Security case, the knowledge you have gained in this course, as well as at least three additional credible resources, analyze the case by addressing the following:
Explain how the Social Security system’s basic principles are different from private insurance.
Determine how Social Security affects the economic well-being of blacks, relative to whites and Hispanics.
Assess if the current Social Security system promotes income equality. Why or why not?
Propose how the Social Security system could be modernized to ensure long-term solvency and fairness in distribution. Be specific and support your proposal with research.