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Strategic Use of Pension Funds Since 1978

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  • Teresa Ghilarducci

    (Department of Economics University of Notre Dame, Notre Dame, Indiana 46556)

Abstract

Through their pension funds, workers own, but do not control, most of the finance capital in the United States. Since 1978 the U.S. labor movement's defensive and offensive pension strategies have bolstered union bargaining power and provided funds to profitable and union-only construction projects. However, the role of unions in the U.S. industrial relations system, the structure of pension management and the competing uses of pension funds stymie labor's efforts to control pension funds. Moreover, labor's reliance on property rights and the market rate of return (to identify worthy projects) may, over time, contravene other labor goals. Challenging how finance capital is invested, rather than who owns the capital, is a strategy the labor movement should begin to consider.

Suggested Citation

  • Teresa Ghilarducci, 1988. "Strategic Use of Pension Funds Since 1978," Review of Radical Political Economics, Union for Radical Political Economics, vol. 20(4), pages 23-39, December.
    • Handle: RePEc:sae:reorpe:v:20:y:1988:i:4:p:23-39
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    Cited by:

    1. Raffaele Bruni, 1996. "The presence of occupational pension schemes within the overall pension scene," Transfer: European Review of Labour and Research, , vol. 2(4), pages 699-723, November.

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