Overview

The follies of the share bubble and the subsequent collapse of Enron and Parmalat, Marconi and Ahold, Worldcom and Waste Management has had devastating effects, wiping out employees' pension savings and further exposing the absence of responsibility at the heart of what Robin Blackburn calls 'grey capitalism'. The author does not just expose problems, however, he also explores solutions. Blackburn identifies new sources of pension finance - an obligation on companies to issue new shares each year equivalent to 10 per cent of their profits and give them to national and regional pension networks - and sketches the shape of a progressive and responsible pension fund regime, which should embrace all citizens and be accountable to them.

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9781844670130

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Praise for Banking on Death: Blackburn's views seem to me refreshing ... [He] acknowledges that there are real strains on the old welfare state and proposes interesting ways to handle them that do not resort to simplistic formulas of privatization. -- Jeff Madrick, New York Review of Books ... required reading for all those interested in the pensions industry. That is, all of us. -- Barry Marshall, Public Service Review: Finance One of the best books I have read on pension funds. -- Independent Blackburn is particularly good at disentangling the different dynamics that make the pensions problem so intractable for mature, ageing economies. -- Sir Howard Davis, Director, FSA, Guardian

Author Information

Robin Blackburn teaches at the University of Essex and is an editor at New Left Review. He is the author of many books, including The American Crucible, The Making of New World Slavery, The Overthrow of Colonial Slavery, Age Shock and Banking on Death.

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