On Tue, 15 Nov 1994, Helene Jorgensen wrote:
> But talking about reforming the social security system, I would like to
> hear the opinion of other pen-lers about changing to a fully funded system
> (instead of the pay-as you-go system we have today). In Denmark a fully fun-
> ded social security system was implemented for, I think, 10-15 years ago. The
> wealth of this fund has increases tremendeously since then, and the fund now
> owns over 50 percent of all stocks of private companies. This has been refer-
> red to as "socialism through the back door."
I've been away, so apologies for entering this discussion belatedly. But
I'd love to hear more about this. How are the funds managed? Peter
Drucker used to wail about "pension fund socialism," but now we see
pension fund managers are among the strongest agents of financial
orthodoxy on the U.S. scene. Are the Danish funds managed according to
social principles or according to orthodox share price maximization?
Doug
Doug Henwood [[EMAIL PROTECTED]]
Left Business Observer
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212-874-3137 (fax)
