Labor's capital : the economics and politics of private pensions / Teresa Ghilarducci.
1992
HD7105.35.U6 G45 1992 (Map It)
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Details
Author
Title
Labor's capital : the economics and politics of private pensions / Teresa Ghilarducci.
Published
Cambridge, Mass. : MIT Press, [1992]
Copyright
©1992
Call Number
HD7105.35.U6 G45 1992
ISBN
0262071398
Description
xi, 213 pages ; 24 cm
System Control No.
(OCoLC)24845756
Bibliography, etc. Note
Includes bibliographical references (pages [183]-197) and index.
Record Appears in
Table of Contents
Preface
1
Introduction: Actors, Paradigms, and Pensions
1
Pensions as Efficient Contracts: The Neoclassical Perspective
2
Pensions as Worker Control Devices: The Marxist Perspective
4
Pensions as Social Institutions: The Institutionalist Perspective
5
Pension Policy Issues
7
2
The Pension Idea
9
Who Should Provide Retirement Income: Government or Business?
10
Who Got to Retire?
11
Types of Government Schemes
12
What Employers Want from Pensions
14
Initial Employer Pension Goals
15
Characteristics of the Early Employer Pensions
16
Outcomes and Contradictions: The New Private Pension System
23
3
Social Insurance with a Union Label
25
Unions, Pensions, and Segmented Labor Markets
25
Union Influence on Pension Coverage
29
Outcomes and Contradictions: Pension Bargaining without Conflict
50
4
The Employer Pension System: Distribution and Moral Hazard
53
Pensions and Moral Hazard
54
External Factors: Distribution of Pension Plan Coverage and Benefits
56
Internal Factors: How Do Pensions Affect Workers within a Plan?
62
A Theory about the Pension Contract
70
Portable Pensions, SEPs, and Distributional Equity
80
Outcomes and Contradictions: Toward a Mandatory Pension System
82
5
Corporate Uses of Pension Funds
85
Pension Contracts and Firm Default
86
Government and the Corporate Use of Pension Plans
89
Outcomes and Contradictions: Challenges to Corporate Use
108
6
Pension Funds and Financial Democracy
111
Economic Power
112
Labor's Access to Pension Fund Management
117
Competition for the Control of Capital
120
Prospects for Worker Capitalism
129
Outcomes and Contradictions: Ownership and Strategies
131
7
What Makes a Good Private Pension System?
133
Requirements for an Optimum Pension System
135
Is the Pension System Consistent with Government Goals?
148
Federal Pension Law: 1920-1989
153
Most of the Costs and Some of the Benefits of Private Pensions
158
Outcomes and Contradictions: The Costs of Volunteerism
159
8
Directions for Private Pension Reform
161
Outlook for Employer Pension Policies in the 1990s
161
The Likely Direction of Government Policies
166
Democratizing the Social Security Trust Fund
173
Resolving the Private Pension Contradictions
176
Notes
179
Bibliography
183
Index
199