LEADER 03948nam 22005535 450 001 9910466274403321 005 20190708092533.0 024 7 $a10.7591/9781501708206 035 $a(CKB)3710000001092713 035 $a(MiAaPQ)EBC4813220 035 $a(StDuBDS)EDZ0001721111 035 $a(OCoLC)960906067 035 $a(MdBmJHUP)muse57130 035 $a(DE-B1597)492927 035 $a(DE-B1597)9781501708206 035 $a(EXLCZ)993710000001092713 100 $a20190708d2017 fg 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aDismantling Solidarity $eCapitalist Politics and American Pensions since the New Deal /$fMichael A. McCarthy 210 1$aIthaca, NY : $cCornell University Press, $d[2017] 210 4$dİ2017 215 $a1 online resource (238 pages) $cillustrations, graphs 300 $aPreviously issued in print: 2017. 311 $a0-8014-5422-0 311 $a1-5017-0820-1 320 $aIncludes bibliographical references and index. 327 $tFrontmatter -- $tContents -- $tAcknowledgments -- $tAbbreviations -- $t1. The Retirement Puzzle -- $t2. Capitalist Crisis and Pension Insecurity -- $t3. Reconversion and the Origin of Bargained Plans -- $t4. Turning Labor into Finance Capital -- $t5. Toward the 401(k) Ownership Society -- $t6. Conclusions -- $tNotes -- $tReferences -- $tIndex 330 $aWhy 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. 606 $aPensions$xPolitical aspects$zUnited States 606 $aPensions$xEconomic aspects$zUnited States 606 $aPension trusts$zUnited States 606 $aIndustrial relations$zUnited States$xHistory 608 $aElectronic books. 615 0$aPensions$xPolitical aspects 615 0$aPensions$xEconomic aspects 615 0$aPension trusts 615 0$aIndustrial relations$xHistory. 676 $a331.25/20973 700 $aMcCarthy$b Michael A., $0311324 801 0$bDE-B1597 801 1$bDE-B1597 906 $aBOOK 912 $a9910466274403321 996 $aDismantling Solidarity$92475674 997 $aUNINA