Our current [Social Security] system was essentially introduced by the chancellor of Germany, Prince Otto von Bismark, in 1889 — twenty years before the first Model-T rolled off the tracks. It does not incorporate anything we have learned with regard to markets and investments over the past one hundred years. And yet any suggestion that the system might be improved through modernization, choice, and privatization is met by Luddite-like opposition. Theodore Forstmann
From remarks delivered during the 1997 Shavano Institute for National Leadership

system was essentially introduced by the chancellor of … ]