Dismantling Solidarity : : Capitalist Politics and American Pensions since the New Deal / / Michael A. McCarthy.
Why has old-age security become less solidaristic and increasingly tied to risky capitalist markets? Drawing on rich archival data that covers more than fifty years of American history, Michael A. McCarthy argues that the critical driver was policymakers' reactions to capitalist crises and thei...
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Place / Publishing House: | Ithaca, NY : : Cornell University Press, , [2017] ©2017 |
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McCarthy, Michael A., author. aut http://id.loc.gov/vocabulary/relators/aut Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / Michael A. McCarthy. Ithaca, NY : Cornell University Press, [2017] ©2017 1 online resource (240 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Acknowledgments -- Abbreviations -- 1. The Retirement Puzzle -- 2. Capitalist Crisis and Pension Insecurity -- 3. Reconversion and the Origin of Bargained Plans -- 4. Turning Labor into Finance Capital -- 5. Toward the 401(k) Ownership Society -- 6. Conclusions -- Notes -- References -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Why has old-age security become less solidaristic and increasingly tied to risky capitalist markets? Drawing on rich archival data that covers more than fifty years of American history, Michael A. McCarthy argues that the critical driver was policymakers' reactions to capitalist crises and their political imperative to promote capitalist growth.Pension development has followed three paths of marketization in America since the New Deal, each distinct but converging: occupational pension plans were adopted as an alternative to real increases in Social Security benefits after World War II, private pension assets were then financialized and invested into the stock market, and, since the 1970s, traditional pension plans have come to be replaced with riskier 401(k) retirement plans. Comparing each episode of change, Dismantling Solidarity mounts a forceful challenge to common understandings of America’s private pension system and offers an alternative political economy of the welfare state. McCarthy weaves together a theoretical framework that helps to explain pension marketization with structural mechanisms that push policymakers to intervene to promote capitalist growth and avoid capitalist crises and contingent historical factors that both drive them to intervene in the particular ways they do and shape how their interventions bear on welfare change. By emphasizing the capitalist context in which policymaking occurs, McCarthy turns our attention to the structural factors that drive policy change. Dismantling Solidarity is both theoretically and historically detailed and superbly argued, urging the reader to reconsider how capitalism itself constrains policymaking. It will be of interest to sociologists, political scientists, historians, and those curious about the relationship between capitalism and democracy. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 29. Jun 2022) Industrial relations United States History. Pension trusts United States. Pensions - Political aspects - United States. Pensions Economic aspects United States. Pensions Political aspects United States. Labor History. Public Policy. U.S. History. POLITICAL SCIENCE / Public Policy / Social Services & Welfare. bisacsh Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2017 9783110665871 print 9780801454226 https://doi.org/10.1515/9781501708206?locatt=mode:legacy https://www.degruyter.com/isbn/9781501708206 Cover https://www.degruyter.com/document/cover/isbn/9781501708206/original |
language |
English |
format |
eBook |
author |
McCarthy, Michael A., McCarthy, Michael A., |
spellingShingle |
McCarthy, Michael A., McCarthy, Michael A., Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / Frontmatter -- Contents -- Acknowledgments -- Abbreviations -- 1. The Retirement Puzzle -- 2. Capitalist Crisis and Pension Insecurity -- 3. Reconversion and the Origin of Bargained Plans -- 4. Turning Labor into Finance Capital -- 5. Toward the 401(k) Ownership Society -- 6. Conclusions -- Notes -- References -- Index |
author_facet |
McCarthy, Michael A., McCarthy, Michael A., |
author_variant |
m a m ma mam m a m ma mam |
author_role |
VerfasserIn VerfasserIn |
author_sort |
McCarthy, Michael A., |
title |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / |
title_sub |
Capitalist Politics and American Pensions since the New Deal / |
title_full |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / Michael A. McCarthy. |
title_fullStr |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / Michael A. McCarthy. |
title_full_unstemmed |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / Michael A. McCarthy. |
title_auth |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / |
title_alt |
Frontmatter -- Contents -- Acknowledgments -- Abbreviations -- 1. The Retirement Puzzle -- 2. Capitalist Crisis and Pension Insecurity -- 3. Reconversion and the Origin of Bargained Plans -- 4. Turning Labor into Finance Capital -- 5. Toward the 401(k) Ownership Society -- 6. Conclusions -- Notes -- References -- Index |
title_new |
Dismantling Solidarity : |
title_sort |
dismantling solidarity : capitalist politics and american pensions since the new deal / |
publisher |
Cornell University Press, |
publishDate |
2017 |
physical |
1 online resource (240 p.) |
contents |
Frontmatter -- Contents -- Acknowledgments -- Abbreviations -- 1. The Retirement Puzzle -- 2. Capitalist Crisis and Pension Insecurity -- 3. Reconversion and the Origin of Bargained Plans -- 4. Turning Labor into Finance Capital -- 5. Toward the 401(k) Ownership Society -- 6. Conclusions -- Notes -- References -- Index |
isbn |
9781501708206 9783110665871 9780801454226 |
callnumber-first |
H - Social Science |
callnumber-subject |
HD - Industries, Land Use, Labor |
callnumber-label |
HD7125 |
callnumber-sort |
HD 47125 |
geographic_facet |
United States United States. |
url |
https://doi.org/10.1515/9781501708206?locatt=mode:legacy https://www.degruyter.com/isbn/9781501708206 https://www.degruyter.com/document/cover/isbn/9781501708206/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
331 - Labor economics |
dewey-full |
331.25/20973 |
dewey-sort |
3331.25 520973 |
dewey-raw |
331.25/20973 |
dewey-search |
331.25/20973 |
doi_str_mv |
10.1515/9781501708206?locatt=mode:legacy |
oclc_num |
960906067 |
work_keys_str_mv |
AT mccarthymichaela dismantlingsolidaritycapitalistpoliticsandamericanpensionssincethenewdeal |
status_str |
n |
ids_txt_mv |
(DE-B1597)492927 (OCoLC)960906067 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2017 |
is_hierarchy_title |
Dismantling Solidarity : Capitalist Politics and American Pensions since the New Deal / |
container_title |
Title is part of eBook package: De Gruyter Cornell University Press Complete eBook-Package 2017 |
_version_ |
1770177060659003392 |
fullrecord |
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