Catalogue

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Pension power : unions, pension funds, and social investment in Canada /
Isla Carmichael.
imprint
Toronto : University of Toronto Press, c2005.
description
xiii, 226 p. : ill. ; 24 cm.
ISBN
0802036473 :
format(s)
Book
Holdings
More Details
imprint
Toronto : University of Toronto Press, c2005.
isbn
0802036473 :
contents note
The development of unions and workplace pension plans -- The "prudent man" rule and maximum rate of return -- The expansion of capital markets -- Shareholder activism -- Unions, social investment, and corporate accountability -- Value, capital accumulation, and radical accounting -- Venture capital, economically targeted investment, and economic development -- A case study of concert -- Carpenters and concert: social accounting models -- Collingwood and concert: union and community -- Accounting for social investment -- Two models for union control of pension funds -- Education and research -- Future research.
catalogue key
5342459
 
Includes bibliographical references (p. [201]-219) and index.
A Look Inside
Summaries
Description for Reader
Canadian pension fund assets are second in size only to the combined financial assets of the major banks and have become a critical source of capital for national and international markets. Given their tax-exempt status, pension funds can provide the long-term capital needed to build a new economy based on real productivity. The funds are controlled by an intricate web of financial and legal standards but, as deferred wages, are largely beyond the control of workers or their unions.In Pension Power, Isla Carmichael argues that unions could and should have a new role to play in the economy by gaining control over their members' pension funds. She demonstrates how the financial industry's access to the capital goes against the interests of working people, and she provides convincing evidence that union management of pensions would better protect benefits and offer support in building infrastructure in communities and protecting the environment. This is a work of singular commitment to a fundamental shift in the structure of managing one of Canada's largest pools of capital.
Main Description
Canadian pension fund assets are second in size only to the combined financial assets of the major banks and have become a critical source of capital for national and international markets. Given their tax-exempt status, pension funds can provide the long-term capital needed to build a new economy based on real productivity. The funds are controlled by an intricate web of financial and legal standards but, as deferred wages, are largely beyond the control of workers or their unions. In Pension Power , Isla Carmichael argues that unions couldand shouldhave a new role to play in the economy by gaining control over their members? pension funds. She demonstrates how the financial industry's access to the capital goes against the interests of working people, and she provides convincing evidence that union management of pensions would better protect benefits and offer support in building infrastructure in communities and protecting the environment. This is a work of singular commitment to a fundamental shift in the structure of managing one of Canada's largest pools of capital.
Table of Contents
The development of unions and workplace pension plansp. 13
The 'prudent man' rule and maximum rate of returnp. 23
The expansion of capital marketsp. 37
Shareholder activismp. 48
Unions, social investment, and corporate accountabilityp. 62
Value, capital accumulation, and radical accountingp. 80
Venture capital, economically targeted investment, and economic developmentp. 92
A case study of concertp. 111
Carpenters and concert : social accounting modelsp. 130
Collingwood and concert : union and communityp. 143
Accounting for social investmentp. 157
Two models for union control of pension fundsp. 170
Education and researchp. 181
Future researchp. 190
Canadas top 23 pension funds
Table of Contents provided by Blackwell. All Rights Reserved.

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