Calculation of the Cost of Unemployment Benefits (With Particular Reference to Ohio and Pennsylvania) [Discussion]

I am extremely gratified by Professor Kulp's paper--first for a perhaps somewhat personal reason--as evidence that he has taken quite seriously my actuarial attempt undertaken after many years of abstention from active participation in actuarial practice. As I still value my professional standing as an actuary after the many attempts of the gentlemen of the Ohio Chamber of Commerce to destroy it, I am under obligation to Professor Kulp. And secondly it is no less gratifying to find him agreeing almost altogether both with my method and my results. Many of Professor Kulp's criticisms are quite valid-though I find myself unable to accept all of them--and helpful. I shall touch upon them briefly presently. I find myself particularly unable to follow the reasoning that because of certain difficulties now met with in the effort to compute rates the "reserve" type of legislation is to be preferred to the insurance type. But if one can at all interpret legislation tendencies--the choice between these two types will not be made by actuaries nor based primarily on actuarial considerations.