Description
Book SynopsisThe book is the first of its kind to attempt to deal with the economics of pensions and ageing on the basis of a rigorous theoretical framework alternative to neoclassical economics.
Sergio Cesaratto breaks the dominant conformism in the current pension debate and explains that the strength of the various reforms proposed depends on the validity of the economic theories on which they are respectively based. He also illustrates the relevance of the Sraffian criticism to undermine the theoretical core of the mainstream proposals.
Academics and practitioners interested in the pension debate, welfare state, income distribution and institutions will find Pension Reform and Economic Theory of great interest, as will demographers, political scientists and mainstream economists open to dissenting views in economic analysis and interested in understanding the economic foundations of pension reform proposals.
Trade Review'. . . reading it broadens one's mind and makes one realise that economic theory is not finished but still in development; the current move toward using insights from other disciplines is a good example. The real challenge would be to find a way to synthesize the classical and neo-classical approach. In that respect, the book succeeds in providing thoughts and ideas for further research.''This book is a scholarly treatise that illuminates the precepts of neoclassical economics and pensions which orthodox pension economists tend to take largely for granted, and it challenges readers to examine other possible interpretations. . . a well-marked and easy-to-follow pathway into the economics of pensions. . . both newcomers and specialists will find it worth their time to read this book.' -- Journal of Pension Economics and Finance
Table of ContentsContents: Introduction 1. Alternative Views of PAYG as a Social Institution 2. Re-engineering PAYG: The Controversy over the Notional Defined Contribution Reforms 3. The Conventional Interpretation of a Fully-Funded Scheme and Capital Theory 4. The Transition from PAYG to FF Schemes 5. The Controversy over the Social Security Surplus 6. The Classical-Keynesian Macroeconomics of Pension Reform in Closed and Open Economies 7. Classical and Neoclassical Perspectives on the Welfare State and Pensions 8. The Viability of an Ageing Society: A Classical Exploration 9. Summary of the Main Arguments References Index
