"Who Owns the High Country is a startling expose of bureaucracy gone wrong. This controversial story tells how large areas of high country in the South Island were old off to runholders form knock-down prices, in a process that was hidden from public view. The author of this book, Ann Brower,...

From estimates of a modified life-cycle consumer expenditure function (LCF), Feldstein (1996) concluded that Social Security old age benefits reduced 1992 private saving by more than $400 billion. (1992 net (gross) private saving was $425 ($1,474) billion.) I confirm this finding, and show that...