Michael A. McCarthy, “Dismantling Solidarity: Capitalist Politics and American Pensions since the New Deal” (Cornell UP, 2017)

New Books in Sociology · Apr 7, 2017 · 53m

Over half of Americans approaching retirement age report having no money saved for retirement, but how did we get here as a nation? In his book, Dismantling Solidarity: Capitalist Politics and American Pensions since the New Deal (ILR/Cornell University Press, 2017) Dr. Michael A. McCarthy takes the reader through the historical background of the U.S. pension system. He breaks down the development of the current system into three parts: the spread of employer based private pensions, the financialization and investment of pension funds into the stock market, and the replacement of traditional…