The rapidly aging populations of many developed countries--most notably Japan and member countries of the European Union--present obvious problems for the public pension plans of these countries. Not only will there be disproportionately fewer workers making pension contributions than there are...

The retirement puzzle -- Capitalist crisis and pension insecurity -- Reconversion and the origin of bargained plans -- Turning labor into finance capital -- Toward the 401(k) ownership society -- Conclusions

Leading economists analyze topical issues in pension policy, including structural reform of pay-as-you-go systems, the political sustainability of pension reforms, and the need for private, funded systems.

Demographic realities will soon force developed countries to find ways to pay for longer retirements for more people. In Pension Strategies in Europe and the United States, leading economists analyze topical issues in pension policy, with a focus on raising the retirement age, increasing...