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Hardcover | Out of Print | ISBN: 9780262071390 | 228 pp. | 6.1 x 8.9 in | June 1992
Paperback | $22.00 Short | £16.95 | ISBN: 9780262515337 | 228 pp. | 6.1 x 8.9 in | January 2003

Labor's Capital

The Economics and Politics of Private Pensions


“Labor's Capital is an interesting and sophisticated book about one of the most explosive issues facing the U.S in the 1990s. No work on pensions in the last twenty years has covered so well the labor market and financial aspects of pensions. The practitioner and policymaker, as well as the scholar, will now be able to understand how pensions are being used by fiinanciers to reshape the economy and how millions of workers are being cheated out of their hard-earned, promised pensions.”
Professor Clair Brown, University of Californuia, Berkley
“A path-breaking and simultaneously definitive study of an important aspect of the evolutionary development of American capitalism--of how private pension distribute both income and power.”
Clark Kerr
Labor's Capital develops an institutional analysis of the U.S. private pension system which takes existing analysis beyond the market for individual exchanges. The aging of America does not allow us the luxery of a private pension system built on hidden interest, misguided priorities and gimmicks. The sharp, wide-angle focus of Labor's Capiral encompasses the historical, political and economic forces which have shaped the current union and cooperate pension plans and logged them within a larger system of economic growth and social insecurity. Ghilarducci is a must read for thosoe who want to know how we got into the pension mess and how me might get out of it.”
Peter Phillips, Labor Economist and Economic Historian, University of Utah
Labor's Capital is an indictment of America's system of private pensions for workers. While some economists characterize pensions as 'optimal long-term contrats,' Teresa Ghilarducci shows that in practice many pension plans are discriminatory, regressive, poorly understood by their suppposed beneficiaries and wide open to manipulation, including termination, by their corporate sponsors. In describing this reality, Ghilarducci has illuminated a neglected, abused and indeed scandalous corner of American working life.”
James K. Galbraith, Professor


Honorable Mention, Business, Management & Accounting category, 1992 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc.