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Author: Ronald B. Davis
Publisher: UBC Press
ISBN: 0774858311
Category : Law
Languages : en
Pages : 254
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Book Description
This book will spark a debate concerning the need for democracy and accountability in the governance of trillions of dollars of plan members' pension plan assets and the legitimacy of the present, mostly unaccountable, corporate governance decisions made by these plans. The author analyzes the reasons for this passivity, pointing to conflicts of interest with respect to corporate governance activity in pension plans and also to limitations in corporate, securities, and pension law. He argues that plan members should be given a voice in pension plan governance and the plans made accountable, and he outlines the legal reforms necessary.
Author: Ronald B. Davis
Publisher: UBC Press
ISBN: 0774858311
Category : Law
Languages : en
Pages : 254
Get Book Here
Book Description
This book will spark a debate concerning the need for democracy and accountability in the governance of trillions of dollars of plan members' pension plan assets and the legitimacy of the present, mostly unaccountable, corporate governance decisions made by these plans. The author analyzes the reasons for this passivity, pointing to conflicts of interest with respect to corporate governance activity in pension plans and also to limitations in corporate, securities, and pension law. He argues that plan members should be given a voice in pension plan governance and the plans made accountable, and he outlines the legal reforms necessary.
Author: Fred Block
Publisher: Verso Books
ISBN: 1839762675
Category : Political Science
Languages : en
Pages : 337
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Book Description
What if our financial system were organized to the benefit of the many rather than simply empowering the few? Robert Hockett and Fred Block argue that an entirely different financial system is both desirable and possible. They outline concrete steps that could get us there. Financial systems move the worlds savings from investment to investment, chasing the highest rates of return. They run on profit. But what if investment went to the enterprises or institutions that provided things that the majority of people would prioritize? Democratizing Finance includes six responses that seek to amend, elaborate, and challenge the arguments developed by Hockett and Block. Some of the core arguments put forward by other contributors include calls for the rapid elimination of private financial entities, the dilemmas of the politics associated with financial reforms, and the fate of parallel proposals advanced in the US in the 1930s.
Author: Sanford M. Jacoby
Publisher: Princeton University Press
ISBN: 0691217203
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
From award-winning economic historian Sanford M. Jacoby, a fascinating and important study of the labor movement and shareholder capitalism Since the 1970s, American unions have shrunk dramatically, as has their economic clout. Labor in the Age of Finance traces the search for new sources of power, showing how unions turned financialization to their advantage. Sanford Jacoby catalogs the array of allies and finance-based tactics labor deployed to stanch membership losses in the private sector. By leveraging pension capital, unions restructured corporate governance around issues like executive pay and accountability. In Congress, they drew on their political influence to press for corporate reforms in the wake of business scandals and the financial crisis. The effort restrained imperial CEOs but could not bridge the divide between workers and owners. Wages lagged behind investor returns, feeding the inequality identified by Occupy Wall Street. And labor’s slide continued. A compelling blend of history, economics, and politics, Labor in the Age of Finance explores the paradox of capital bestowing power to labor in the tumultuous era of Enron, Lehman Brothers, and Dodd-Frank.
Author: Michael A. McCarthy
Publisher: Cornell University Press
ISBN: 1501708198
Category : Political Science
Languages : en
Pages : 169
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Book Description
Why has old-age security become less solidaristic and increasingly tied to risky capitalist markets? Drawing on rich archival data that covers more than fifty years of American history, Michael A. McCarthy argues that the critical driver was policymakers' reactions to capitalist crises and their political imperative to promote capitalist growth.Pension development has followed three paths of marketization in America since the New Deal, each distinct but converging: occupational pension plans were adopted as an alternative to real increases in Social Security benefits after World War II, private pension assets were then financialized and invested into the stock market, and, since the 1970s, traditional pension plans have come to be replaced with riskier 401(k) retirement plans. Comparing each episode of change, Dismantling Solidarity mounts a forceful challenge to common understandings of America’s private pension system and offers an alternative political economy of the welfare state. McCarthy weaves together a theoretical framework that helps to explain pension marketization with structural mechanisms that push policymakers to intervene to promote capitalist growth and avoid capitalist crises and contingent historical factors that both drive them to intervene in the particular ways they do and shape how their interventions bear on welfare change. By emphasizing the capitalist context in which policymaking occurs, McCarthy turns our attention to the structural factors that drive policy change. Dismantling Solidarity is both theoretically and historically detailed and superbly argued, urging the reader to reconsider how capitalism itself constrains policymaking. It will be of interest to sociologists, political scientists, historians, and those curious about the relationship between capitalism and democracy.
Author: Dennis C. Canterbury
Publisher: Routledge
ISBN: 1351152823
Category : Political Science
Languages : en
Pages : 230
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Book Description
Originally published in 2005. Domestic and foreign economic and political policies in the rich capitalist nations in the North and in the poor countries in the South are geared towards globalization and democratization. Indeed the dominant view held by countries in the North is that globalization leads to democracy and vice versa, and that in turn economic development will result from that process. Thus many scarce resources are allocated to bring about globalization and democracy. Exploring the dynamics of change that allow for the persistence of authoritarian states in the Third World, this illuminating book highlights certain aspects of democratization that have not been investigated fully. Anyone interested in development politics and political sociology will draw a plethora of important theoretical insights into globalization, authoritarianism and transition/democratization from this original study.
Author: Sonia Fleury
Publisher: Springer Nature
ISBN: 303135110X
Category : Political Science
Languages : en
Pages : 244
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Book Description
This book examines the emergence of authoritarian populist regimes, analyzing Brazil as a case study. The authors explain how the tactics employed by the Bolsonaro administration to dismantle bureaucracy and public policies, especially labour and social policies, find expression in the fiscal austerity measures recently inscribed in the Federal Constitution: a counter-democratic device employed by technical and financial elites to systemically derail the social protection system. Through this in-depth case study, the book presents new theoretical arguments and concepts that can be useful to understand the dynamics of such new regimes, and discussing similar cases in other contexts. Democratic governments in Brazil, driven by social movements and political actors, have strengthened social protection through a distinctive institutional architecture that combines the strengthening of public bureaucracies, the creation of intergovernmental networks, and the democratic instances of social participation and agreement. The contributions throughout this volume analyze these transformations in different sectors of public policy, such as labour, employment, pensions, food and nutrition security, health, and social assistance. Each contribution discusses the recent trajectory through a political analysis of the main actors and institutions, reform processes and policy changes, and the results achieved. Finally, the existing weaknesses in each of these social protection sectors are identified in the context of the literature on policy dismantling, revealing the strategies used to take advantage of these political and institutional weaknesses. This book will appeal to students, scholars, and researchers of political science and public policy, interested in a better understanding of de-democratization by social policy dismantling.
Author: John D Nagle
Publisher: SAGE
ISBN: 0857026232
Category : Political Science
Languages : en
Pages : 337
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Book Description
This wide-ranging overview of the processes of democratization in post-Communist Europe, places the transitions in East-Central Europe within a broad European and global context. The authors begin with a introduction to the concept and theories of democracy and then examine the emerging politics of the new democracies to set the post-Communist transitions in longer-term comparative perspective with earlier and existing processes of democratization in Southern Europe, Latin America, and East and Southeast Asia. Finally the politics of EU accession are introduced to place the transitions within the wider context of European integration. Concluding with a summary of recent critiques of modern democracy and looking toward future theories, this text provides a comprehensive introduction to what will remain the key contemporary issue for all students of political science.
Author: Benjamin J. Richardson
Publisher: Routledge
ISBN: 1135941068
Category : Law
Languages : en
Pages : 347
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Book Description
This book is about fiduciary law’s influence on the financial economy’s environmental performance, focusing on how the law affects responsible investing and considering possible legal reforms to shift financial markets closer towards sustainability. Fiduciary law governs how trustees, fund managers or other custodians administer the investment portfolios owned by beneficiaries. Written for a diverse audience, not just legal scholars, the book examines in a multi-jurisdictional context an array of philosophical, institutional and economic issues that have shaped the movement for responsible investing and its legal framework. Fiduciary law has acquired greater influence in the financial economy in tandem with the extraordinary recent growth of institutional funds such as pension plans and insurance company portfolios. While the fiduciary prejudice against responsible investing has somewhat waned in recent years, owing mainly to reinterpretations of fiduciary and trust law, significant barriers remain. This book advances the notion of ‘nature’s trust’ to metaphorically signal how fiduciary responsibility should accommodate society’s dependence on long-term environmental well-being. Financial institutions, managing vast investment portfolios on behalf of millions of beneficiaries, should manage those investments with regard to the broader social interest in sustaining ecological health. Even for their own financial self-interest, investors over the long-term should benefit from maintaining nature’s capital. We should expect everyone to act in nature’s trust, from individual funds to market regulators. The ancient public trust doctrine could be refashioned for stimulating this change, and sovereign wealth funds should take the lead in pioneering best practices for environmentally responsible investing.
Author: Eric Laursen
Publisher: AK Press
ISBN: 1849351015
Category : Political Science
Languages : en
Pages : 834
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Book Description
Explores the potential benefits of a government-independent, democratized Social Security system to support dependents suffering from the reduction of other government benefits.
Author: James G. McGann
Publisher: Routledge
ISBN: 1135224927
Category : Political Science
Languages : en
Pages : 236
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Book Description
This book explores the pivotal role of think tanks in the democratization and economic reform movements by evaluating their overall effect on the transformation process in developing and transitional countries around the world. James G. McGann assesses twenty-three think tanks, located in nine countries and four regions of the world: Chile, Peru, Poland, Slovakia, South Africa, Botswana, the Philippines, Thailand, and Vietnam, that have most impacted political and economic transitions in their respective countries. The author examines the role they played in the process of democratization and market reform during the late 80s and 90s and identifies the importance of think tanks in these processes by evaluating their overall effect on the policymaking process. He argues in the early stages of a transition from an authoritarian regime to an open and democratic society the activities of think tanks are especially critical, and they have provided a civil society safety net to support these fragile democracies. This book will be of interest to students and scholars of political science, democratization, development, economic development and civil society.
