Arnold Kling asks,

The question that I have for Krugman and other defenders of the status quo is this: how much of an increase in economic growth must privatization stimulate in order to make it worthwhile? What I thought that Kinsley was saying was that unless economic growth increases by enough to eliminate all of the unfunded liability of Social Security, then privatization does not “work.” To me, that sets the bar awfully high–in effect, you’re saying that unless privatization provides umpteen trillion in higher real GDP, you’d rather get nothing. But perhaps I misread Kinsley.