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Comparing pension systems in the circular flow of income

Trigg, Andrew B. and Lowe, Jonquil T. (2011). Comparing pension systems in the circular flow of income. American Journal of Economics and Sociology, 70(5) pp. 1248–1281.

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DOI (Digital Object Identifier) Link: http://dx.doi.org/10.1111/j.1536-7150.2011.00811.x
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Abstract

The neoliberal consensus is that state funded pensions are not sustainable in the long term, due to declining fertility and longevity. In response, policymakers have pointed to the advantages of privately funded pension systems. This article compares the social provisioning of these two systems using the circular flow of income as an organizing framework. A series of pitfalls in the private model are examined, including inequality of provision, mis-selling of investment products, and punitive charges.

Item Type: Journal Article
Copyright Holders: 2011 American Journal of Economics and Sociology Inc
ISSN: 1536-7150
Keywords: pensions; circular flow; state pensions; private pensions; social provisioning
Academic Unit/Department: Social Sciences > Economics
Interdisciplinary Research Centre: Innovation, Knowledge & Development research centre (IKD)
Related URLs:
Item ID: 30458
Depositing User: Jonquil Lowe
Date Deposited: 16 Jan 2012 09:31
Last Modified: 26 Oct 2012 04:51
URI: http://oro.open.ac.uk/id/eprint/30458
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