“People will always have children,” assured Konrad Adenauer, the German Chancellor, in 1957. He was convinced that the future of the brave new pay-as-you-go social security system would not be undermined by demographic changes. Adenauer was as wrong as ever. […] [S]ocial security replaces children and the family as the main support in old age by literally socializing the traditional duties of the family. Why have children when the state will take care of you in your old age? […]
Every kind of socialism creates perverse incentives, and socialism directed to the family perverts the family.