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Rent Seeking In Private Pensions
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Book Synopsis Rent-Seeking in Private Pensions by : Mark Hyde
Download or read book Rent-Seeking in Private Pensions written by Mark Hyde and published by Springer. This book was released on 2016-08-31 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that the implementation of compulsory, highly regulated, privately administered, defined contribution pensions facilitates rent-seeking behaviour on the part of the pension fund administrators and undermines the retirees’ income and well-being. While the book focuses primarily on Chile, its analysis and conclusions are applicable to several Latin American and Eastern European countries where privately administered pension systems have been implemented. Chapters evaluate the scholarly literature and empirical evidence around three aspects of the pension fund industry: structure, pricing and performance. The authors conclude that state regulation has facilitated the accumulation of capital in the hands of the pension fund administrators. They also demonstrate that these systems owe more to the values and principles of conservative philosophy than to neoliberalism in providing alternative solutions to the rent-seeking approach to retirement.
Book Synopsis Companion to the Political Economy of Rent Seeking by : R. D. Congleton
Download or read book Companion to the Political Economy of Rent Seeking written by R. D. Congleton and published by Edward Elgar Publishing. This book was released on 2015-02-27 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quest for benefit from existing wealth or by seeking privileged benefit through influence over policy is known as rent seeking. Much rent seeking activity involves government and political decisions and is therefore in the domain of political econo
Book Synopsis Rent-Seekers, Profits, Wages and Inequality by : Péter Mihályi
Download or read book Rent-Seekers, Profits, Wages and Inequality written by Péter Mihályi and published by Springer. This book was released on 2018-12-29 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mihályi and Szelényi provide a timely contribution to contemporary debates about inequality of incomes and wealth, offering a careful examination of various sources of rent in contemporary societies, and considering several policy options to reduce inequality in order to preserve the meritocratic nature of liberal democracies. While Rent-Seekers, Profits, Wages and Inequality acknowledges the rapid and disturbing increase of incomes and wealth in the top 1 or 0.1%, it focuses on the increasing rent component of incomes and wealth in the top 20% as even more consequential. The attention to cutting-edge issues on inequality in macroeconomics, political science and sociology will appeal to social scientists interested in income distribution and wealth accumulation.
Book Synopsis Retirement, Pensions and Justice by : Mark Hyde
Download or read book Retirement, Pensions and Justice written by Mark Hyde and published by Springer. This book was released on 2017-05-19 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the tendency to mischaracterise liberalism as a “neoliberal” reform project, arguing that liberal political philosophy is concerned only to sustain the conditions that make individual freedom possible. This is illustrated with reference to the design of pensions. Considered in terms of liberal justice, retirement systems require redistributive transfers to help the poor, measures to ensure that retirees are rewarded on their merits, and provisions that treat everyone with equal dignity and respect. Rather than presenting liberal pensions as a close analogue to neoliberalism, this volume highlights their egalitarian virtues. This book will appeal to scholars of retirement and pensions, social policy, economics and political philosophy.
Download or read book Brazil written by and published by World Bank Publications. This book was released on 2001-01-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social security is the single most important fiscal issue facing the Brazilian government today. This report summarizes the state, and potential policy implications, of the Brazilian Social security system. It also discusses policy recommendations for: social security and pensions, the national social security system, government pensions and funds, and the complementary pension systems. An overview of the social security challenge reviews the system components, revealing unsustainable fiscal imbalances and administrative weaknesses in both the unreformed General Regime for Social Security (RGPS), and the Pension Regime for Government Workers (RJU), with large tax-related distortions, and labor market inefficiency. Thus the goals of Brazil's reforms are to reduce fiscal deficits, lower actuarial imbalances, increase equity and redistribution, reduce collateral inefficiencies, and facilitate growth of funded pensions. The study implies there is no recourse for the country, but to lower the high, uniform replacement rates (experience suggests that rates higher than 40-70 percent, cannot be sustained). The key to effective reform of social security is widening the debate to include potential winners from these changes, particularly the private sector, the young, and the poor. Policy recommendations suggest that the adverse equity effects of RGPS reforms should be widely publicized to generate political support for deeper RJU reform.
Book Synopsis OECD Economic Surveys: Israel 2016 by : OECD
Download or read book OECD Economic Surveys: Israel 2016 written by OECD and published by OECD Publishing. This book was released on 2016-01-31 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 OECD Economic Survey of Israel examines recent economic developments, policies and prospects. The special chapters cover: Special Features: Boosting competition on Israeli markets and Improving the pension system.
Book Synopsis Pension Reform in Southeastern Europe by : Robert Holzmann
Download or read book Pension Reform in Southeastern Europe written by Robert Holzmann and published by World Bank Publications. This book was released on 2009-01-01 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Around the world, pension reform remains at the center of public debate. Its social, fiscal, and macroeconomic implications confront policy makers, practitioners, and academia with challenging questions. Pension systems in aging societies--in need of reform and further stressed by the pressures of globalization--require parallel reforms of the labor market and effective lifelong learning, not only to promote working longer, but to ensure that people can actually do so. At the same time, the working population should be motivated to contribute to pension schemes and prepare for old age. Diversify.
Book Synopsis Management and Regulation of Pension Schemes by : Nicholas Morris
Download or read book Management and Regulation of Pension Schemes written by Nicholas Morris and published by Routledge. This book was released on 2018-03-19 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perhaps the greatest long-term challenge facing modern economies is how to pay for the living expenses and care costs of the elderly. Following policy decisions made in Australia in the 1990s, a substantial part of the pension requirements of the next cohort of retirees will be met from savings accumulated during working years. The effective management of these savings is crucial. If they are invested wisely, the assets available to fund pensions and care will grow; if not, available funds may turn out to be insufficient. Unfortunately, there is considerable evidence worldwide that the management of funds attracts rent-seeking behaviour by the financial services industry which erodes much of the potential return. Australia introduced compulsory superannuation contributions for its working population in 1991, leading to a proliferation of funded schemes that are largely run by the private sector. Complexity, and many degrees of separation between fund members and those who manage their funds, have emerged as serious problems. Combined with weak competitive pressures and governance systems, and insufficient legal and regulatory constraints, the result is a system that does not serve its members well. This book provides a detailed evaluation of the Australian experience, highlights the extent to which the financial services industry has extracted rents from Australian pensioners, and how and why this occurred. Based on original empirical research, and examination of industry reviews and relevant literature, the book demonstrates the numerous principal–agent, conflict of interest and rent extraction problems that have emerged in Australia. The book makes suggestions for how these problems can be addressed in Australia, and also provides lessons for other countries wishing to enact pension reform.
Book Synopsis Rents, Rent-Seeking and Economic Development by : Mushtaq Husain Khan
Download or read book Rents, Rent-Seeking and Economic Development written by Mushtaq Husain Khan and published by Cambridge University Press. This book was released on 2000-09-07 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.
Book Synopsis The Role of Unions in the Twenty-first Century by : Tito Boeri
Download or read book The Role of Unions in the Twenty-first Century written by Tito Boeri and published by Oxford University Press. This book was released on 2001 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises two reports which discuss the role that unions are likely to play in the changed economic environment of the next century.
Book Synopsis France in Crisis by : Timothy B. Smith
Download or read book France in Crisis written by Timothy B. Smith and published by Cambridge University Press. This book was released on 2004-11-11 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
Book Synopsis Welfare and Social Protection in Contemporary Latin America by : Gibrán Cruz-Martínez
Download or read book Welfare and Social Protection in Contemporary Latin America written by Gibrán Cruz-Martínez and published by Routledge. This book was released on 2019-03-19 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social protection serves as an important development tool, helping to alleviate deprivation, reduce social risks, raise household income and develop human capital. This book brings together an interdisciplinary team of international experts to analyse social protection systems and welfare regimes across contemporary Latin America. The book starts with a section tracking the expansion of social assistance and social insurance in Latin America through the state-led development era, the neoliberal era and the pink-tide. The second section explores the role played by local and external actors modelling social policy in the region. The third and final section addresses a variety of contemporary debates and challenges around social protection and welfare in the region, such as gender roles and the empowerment of CCT beneficiaries, and welfare provision for rural outsiders. The book touches on key topics such as conditional cash transfer programmes, trade union inclusionary strategies, transnational social policy, state-led versus market-led welfare provision, explanatory factors in the emerging dualism of social protection institutions, social citizenship rights as a consequence of changing social policy architecture and different poverty reduction strategies. This interdisciplinary volume will be of interest to economists, political scientists, sociologists, anthropologists and historians working on social protection in Latin America, or interested in welfare systems in the global south.
Book Synopsis The Capitalist Revolution in Latin America by : Paul Craig Roberts
Download or read book The Capitalist Revolution in Latin America written by Paul Craig Roberts and published by Oxford University Press. This book was released on 1997-04-17 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The political and social upheavals that have transformed the economies of Eastern Europe and the former Soviet Union during the past ten years have sparked considerable interest and speculation on the part of Western observers. Less noted, though hardly less dramatic, has been the revolutionary spread of free market capitalism throughout much of Latin America during the same period. In a wide-ranging survey that illuminates both the history and present business climate of the region, Paul Roberts and Karen Araujo describe the economic transformation currently taking place in Latin America. And as they do so, they also reexamine many of the prevailing orthodoxies concerning international development and the regulation of markets, and point to the success of privatization and free enterprise in Mexico, Argentina, and Chile as harbingers of the economic future for both hemispheres. The potential strength of the economies of Central and South America has always been obvious, the authors point out. Abundant natural resources, combined with vast expanses of fertile land and a sophisticated and relatively cohesive social culture, are found throughout the region. But the authors show that the Latin American nations were slow to discard the economic and social climate that they had inherited from their Spanish colonial masters, who had ruled by selling government jobs--creating a network of privilege--and by suppressing through over-regulation the development of markets for goods, services, and capital. The prevalent cultural attitude in Latin America was hostile to commerce, trade, and work--indeed, it was more socially acceptable to court government privilege than to compete in markets. The authors further show that U.S. aid packages to the region actually reinforced this culture of privilege and further hampered the growth of a free economy. Not until the 1980s did the picture begin to change, largely in response to the economic crises brought on through catastrophic national debts and hyperinflation. The book describes the efforts of the Salinas, Pinochet, and Menem governments to combat the established interests of the local elites and the international development agencies, to privatized state industries, and to established independent markets. In this new climate, private capitalists and entrepreneurs are feted and celebrated, and productivity has risen to levels unimagined only a few years before. But this dramatic economic turnaround, the authors show, is a mixed blessing for the U.S. For if it provides us with a vast new market for our goods, it has also created a powerful new competitor for capital investment. To keep American and foreign capitalists investing in America, the government needs to make changes, which the authors outline in a provocative conclusion. Central and South America have a combined population of 460 million people, a potential market greater than the United States and Canada combined or the European Community. Thus the rise of free market capitalism in Latin America is of vital interest to the United States. The Capitalist Revolution in Latin America provides an insightful portrait of this dramatic economic turn-around, illuminating the economic consequences for our own society.
Book Synopsis Rent-Seeking, Institutions and Reforms in Africa by : Pius Fischer
Download or read book Rent-Seeking, Institutions and Reforms in Africa written by Pius Fischer and published by Springer Science & Business Media. This book was released on 2007-12-03 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume identifies rent-seeking behavior as a primary cause of poor economic performance in many places, particulary Africa. The book presents a detailed empirical study of rent-seeking within the civil service, parastatal sector, and business community in Tanzania. It quantifies and evaluates the rent-seeking behavior of more than 300 parastatal companies and the resulting impact on society. The conclusions on reform strategies are applicable to counties within and outside Africa.
Book Synopsis Regulatory Controversies of Private Pension Funds by : Dimitri Vittas
Download or read book Regulatory Controversies of Private Pension Funds written by Dimitri Vittas and published by World Bank Publications. This book was released on 1998 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: March 1998 Although controversial, investment and other draconian regulations for private pension funds are suitable for countries with weak capital markets and little tradition of private pension provision. But regulations should be relaxed as private pension funds gain in maturity. Like other financial institutions, private pension funds require a panoply of prudential and protective regulations to ensure their soundness and safeguard the interests of affiliated workers. These regulations include authorization criteria (such as minimum capital, fit and proper, and business plan requirements), asset segregation and external custody, professional asset management, external audits and actuarial reviews, extensive information disclosure, and effective supervision. These regulations resemble those applied to banks and insurance companies and are not particularly controversial. But private pension funds in developing countries are often subject to structural and operational controls that are more controversial. Such controls include special authorizations and market segmentation, one account per worker and one fund per company rules, nondiscrimination provisions, regulations on fees and commissions, investment limits, minimum profitability rules, and state guarantees. Vittas discusses the use of such regulations in developing countries that have implemented systemic pension reforms. He draws a distinction between this approach and the more relaxed regulatory regime that relies on the prudent person rule found in more advanced countries. He argues that the draconian regulatory approach can be justified on several grounds, but especially by the compulsory nature of the pension system, the absence of strong and transparent capital markets, and the lack of a long tradition of private pension funds. But the regulations should be progressively relaxed as private pension funds and their affiliated workers gain in experience, sophistication, and maturity. This paper-a product of the Development Research Group-is part of a larger effort in the group to study pension funds and institutional investors.
Book Synopsis Toward Better Regulation of Private Pension Funds by : Hemant Shah
Download or read book Toward Better Regulation of Private Pension Funds written by Hemant Shah and published by World Bank Publications. This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Affordable City by : Shane Phillips
Download or read book The Affordable City written by Shane Phillips and published by Island Press. This book was released on 2020-09-15 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Los Angeles to Boston and Chicago to Miami, US cities are struggling to address the twin crises of high housing costs and household instability. Debates over the appropriate course of action have been defined by two poles: building more housing or enacting stronger tenant protections. These options are often treated as mutually exclusive, with support for one implying opposition to the other. Shane Phillips believes that effectively tackling the housing crisis requires that cities support both tenant protections and housing abundance. He offers readers more than 50 policy recommendations, beginning with a set of principles and general recommendations that should apply to all housing policy. The remaining recommendations are organized by what he calls the Three S’s of Supply, Stability, and Subsidy. Phillips makes a moral and economic case for why each is essential and recommendations for making them work together. There is no single solution to the housing crisis—it will require a comprehensive approach backed by strong, diverse coalitions. The Affordable City is an essential tool for professionals and advocates working to improve affordability and increase community resilience through local action.
