Pensions and Privilege

Pensions and Privilege

This is a well-written, well-argued book. It is a critical assessment of the private pension system and an account of its transformation into a major element of capital accumulation and corporate finance strategy. The author devotes a large part of her work to the possibilities of pension reforms that will benefit the mass of workers excluded from the system. To that end she advocates a mandatory universal pension system that would, in effect, envelope the Social Security system. It would be advance-funded (not financed on a pay-asyou- go basis), which would minimize the intergenerational transfers of income that have become politically burdensome to Social Security; and would thus also enlarge the savings(or capital) pool available for public investment.

...

Wurgraft | University of California Press Lima