Pensions - Past Their Prime

One thing that should be a clear to everyone tracking the current financial crisis is the new pension reality: Pensions as currently structured are completely unworkable in a global economy that is powered by the private sector. This applies both to government pensions and benefits and to private sector pensions. The current debate about what to do with the UAW contracts with Ford and GM is one part of a much bigger problem that has to do with human nature and the way our economic system works. ...more