Funded pensions create cross-class alliances between workers and owners
Evidence
Scholarship on the political manifestations of wage-earners’ ‘split identities’ (Boyer, 2010, p. 350–351) therefore remains relatively underdeveloped. In the context of weakening forms of interest mediation (labour unions, collective bargaining), associated with Fordism, new forms of political organization are likely to emerge. A number of scholars, for instance, have explored the cross-class alliances between workers and owners that have formed in the wake of the financialization process (Aguilera and Jackson, 2003; Ho¨pner, 2003; Gourevitch and Shinn, 2007; Engelen et al., 2008). Essential to these alliances has been the expansion of funded pension schemes that align workers’ interests with those of owners. — Natascha van der Zwan, Making Sense of Financialization, 103
Categorization
- XREF: Relates to the proposal that pension-fund capitalism restructures class alliances, relevant to wider finance-society literature. — connects to: The American ruling class historically shared a vocation of work with workers; Wage-earners are both workers and capital owners under financialization — Natascha van der Zwan, Making Sense of Financialization, 102; Free-trade agitation united British working and middle classes across class lines — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 444 (+1 more)
- corroborated: 2 independent passages support this claim — Natascha van der Zwan, Making Sense of Financialization, 103
Broader Connections
- Wage-earners are both workers and capital owners under financialization
#expands(0.82) — Natascha van der Zwan, Making Sense of Financialization, 102 - Free-trade agitation united British working and middle classes across class lines
#exemplifies(0.78) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 444 - The American ruling class historically shared a vocation of work with workers
#expands(0.75) - Regressive populism and speculative finance are forming new alliances.
#exemplifies(0.72) — Aris Komporozos-Athanasiou, Speculative Communities, 57