Why has old-age security become less solidaristic and increasingly tied to risky capitalist markets? Drawing on rich archival data that covers more than fifty years of American history, Michael A. McCarthy argues that the critical driver was policymakers' reactions to capitalist crises and their political imperative to promote capitalist growth.

Pension development has followed three paths of marketization in America since the New Deal, each distinct but converging: occupational pension plans were adopted as an alternative to real increases in Social Security benefits after World War...

Why has old-age security become less solidaristic and increasingly tied to risky capitalist markets? Drawing on rich archival data that covers more than fifty years of American history, Michael A. McCarthy argues that the critical driver was policymakers' reactions to capitalist crises and their political imperative to promote capitalist growth.

Pension development has followed three paths of marketization in America since the New Deal, each distinct but converging: occupational pension plans were adopted as an alternative to real increases in Social Security benefits after World War...