Many Europeans fear proposals to privatise their public pension arrangements. They believe that p... more Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon
is a Lecturer in Accounting and Finance at Plymouth Business School. Sue has an interest in conte... more is a Lecturer in Accounting and Finance at Plymouth Business School. Sue has an interest in contemporary development in the world of pensions and also has undertaken research in the areas of stock market effi ciency and corporate investment and fi nancing decisions.
Many Europeans fear proposals to privatise their public pension arrangements. They believe that p... more Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon which public pensions are premised, and find that they are flawed. Second, drawing upon our own extensive research, we find that several features of mandated private pensions can be compatible with the requirements of the public interest, defined in terms of collectivist values. Provided that they are appropriately designed and regulated, mandated private pensions are a viable alternative to publicly administered retirement income protection. In view of these arguments, Europeans should not fear all privatisation.
Many Europeans fear proposals to privatise their public pension arrangements. They believe that p... more Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon
is a Lecturer in Accounting and Finance at Plymouth Business School. Sue has an interest in conte... more is a Lecturer in Accounting and Finance at Plymouth Business School. Sue has an interest in contemporary development in the world of pensions and also has undertaken research in the areas of stock market effi ciency and corporate investment and fi nancing decisions.
Many Europeans fear proposals to privatise their public pension arrangements. They believe that p... more Many Europeans fear proposals to privatise their public pension arrangements. They believe that privatisation is necessarily informed by the classical liberal free market model, which, if imported to Europe, would prove to be incompatible with social cohesion and distributive justice. In endorsing privatisation, this article responds to these fears in two ways. First we examine several of the arguments upon which public pensions are premised, and find that they are flawed. Second, drawing upon our own extensive research, we find that several features of mandated private pensions can be compatible with the requirements of the public interest, defined in terms of collectivist values. Provided that they are appropriately designed and regulated, mandated private pensions are a viable alternative to publicly administered retirement income protection. In view of these arguments, Europeans should not fear all privatisation.
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