Synopses & Reviews
U.S. PENSION FUNDS are now worth more than $7 trillion, and many people believe that the most important task for the labor movement is to harness its share of this capital and develop strategies that will help, rather than hurt, workers and unions. Working Capital challenges money managers and today's labor movement by asking how worker's hard earned savings can be put to use in socially and economically progressive ways.
Responsible management of pensions will create greater growth and prosperity in America, and the authors of Working Capital show that the long-term interests of pension plan beneficiaries are well served through a "worker-owners" view of the economy.
This book builds on the work of the Heartland Forum supported by the United Steelworkers of America, the AFL-CIO's Center for Working Capital, and several foundations, including the Ford Foundation and the Rockefeller Foundation, to draw together the wisdom of a number of experts on labor's next best moves in the pension market.
Includes bibliographical references (p. 239-255) and index.
Table of Contents
Introduction : the challenge of labor's capital strategy / Tessa Hebb -- Collateral damage : do pension fund investments hurt workers? / Dean Baker and Archon Fung -- Social funds in the United States : their history, financial performance and social impacts / Eric Becker and Patrick Mcveigh -- Labor's role in the shareholder revolution / Marleen O'Connor -- Building on success : labor-friendly investment vehicles and the power of private equity / Michael Calabrese -- Canadian labour sponsored investment funds : a model for U.S. economically targeted investments / Tessa Hebb and David Mackenzie -- Small benefits, big pension funds, and how governance reform can close the gap / Teresa Ghilarducci -- Overcoming institutional barriers on the ETI Superhighway / Jayne Zanglein -- Challenging Wall Street's conventional wisdom : defining a worker-owner view of value / Damon Silvers, Bill Patterson, J.W. Mason.