With higher risk, there is a chance that, 40 years from now, many individuals will find themselves with less than they need to retire. But if one really thinks that free lunches exist, there is still no reason to privatize: government could get the additional returns by investing in the stock market itself.
随着风险加剧，在今后的40年中，许多人有可能将会发现他们退休时所拥有的将少于退休所必需的。但若有人真的相信免费午餐的存在，仍然没有私有化的理由：政府可以通过自己在股票市场投资来获取额外回报。事实上，克林顿总统提议的正是这个。