> It's a solution with a noble goal: giving the individual complete control of their financial resources.
Indeed, but also complete responsibility for safeguarding these. It's hard to imagine a good situation where an individual has complete control but not complete responsibility, that way lies moral hazard.
Perhaps not the same one, but there's a fantastic course by Barbara Oakley by this name. I viewed it quite a while back, but the modern incarnation seems to be [0]. In a similar vein, the book "How we learn" by Stanislas Dehane is also very good!
Indeed, but also complete responsibility for safeguarding these. It's hard to imagine a good situation where an individual has complete control but not complete responsibility, that way lies moral hazard.