This book introduces a new economic and financial system to replace the flawed current system. The past financial crises, including the Great Depression, the Global Financial Crisis, the COVID-19 pandemic, and the ongoing war between Russia and Ukraine, have showed us that the global financial...

China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we...

The future arrangement and funding of pension systems is increasingly the subject of recent public discussion. This paper addresses this issue, deals specifically with the two competing pension system models, "Bismarck" and "Beveridge" and examines some of their economic and sociopolitical...