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ISBN: 1859847951Издательство: Verso
The onset of globalization and the aging of populations have encouraged efforts to privatize the funding of retirement, putting at risk public pensions in many countries and giving pension and insurance funds great financial power. Private funds enjoy vital public subsidy, in the shape of major tax breaks, yet typically fail to give their policyholders a say, or subscribe to wider social objectives. Banking on Death traces the history of pension provision across the advanced capitalist world. It concludes that tax concessions should be confined to those funds which adhere to socially committed and sustainable investment programs, preferably on a not-for-profit basis. Blackburn offers a lucid survey of the debates on the future of social security in the United States and the struggles over pension provision in Britain , France and Germany. At once radical and realistic his analysis shows how gray capitalism could be transformed in pursuit of progressive goals.