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Author Russell, James W., 1944- author.

Title Social insecurity : 401(k)s and the retirement crisis / James W. Russell. [Axis 360 electronic resource]

Publication Info. Boston, Mass. : Beacon Press, [2013]
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Description 1 online resource
text file rda
Contents Before the swindle -- A fix for what wasn't broken -- Army tanks and think tanks -- Targeting social security and public worker pensions -- How 404(k)s are supposed to work and why they don't -- A model unravels -- Turmoil in the land of steady habit -- What we can do.
Summary How 401(k)s have gutted retirement security, from charging exorbitant hidden fees to failing to replace the income of traditional pensions Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when 401(k)s began replacing traditional pensions. For the last thirty years, we've been advised that the best way to build one's nest egg is to invest in 401(k)-type programs. This financial experiment, promoted by neoliberals and Wall Street, has come full circle, with tens of millions of Americans now discovering that they would have been better off under traditional pension plans long since replaced. As James W. Russell explains, this do-it-yourself pension system'in which individuals with modest incomes are expected to invest large sums of capital in order to reap the same results as professional high-end money managers'isn't working. Social Insecurity tells the story of a massive and international retirement robbery'from its ideological origins in Milton Friedman's infamous Chicago School to its implementation in Chile under Pinochet's dictatorship and adoption in America via Reaganomics.
Bibliography Includes bibliographical references and index.
Contents Before the swindle -- A fix for what wasn't broken -- Army tanks and think tanks -- Targeting social security and public worker pensions -- How 401(k)s are supposed to work and why they don't -- A model unravels -- Turmoil in the land of steady habits -- What we can do.
Subject 401(k) plans.
Pensions -- United States.
Social security -- United States.
Business.
401(k) plans. (OCoLC)fst00793729
Business. (OCoLC)fst00842262
Pensions. (OCoLC)fst01057086
Social security. (OCoLC)fst01123077
United States. (OCoLC)fst01204155
Genre Electronic books.
Other Form: Electronic reproduction of (manifestation): Russell, James W., 1944- Social insecurity Boston, Mass. : Beacon Press, 2013 9780807012567 (DLC) 2013043335 (OCoLC)852823823
ISBN 9780807012574 : $26.95
0807012572 : $26.95
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