Description - Age Shock: How Finance Is Failing Us by Robin Blackburn
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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