
While America Aged
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Narrated by:
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Michael McConnohie
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By:
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Roger Lowenstein
Negotiating high benefits means gambling with future finances - and when the farm gets sold out from underneath major corporations or public institutions, it affects all of us, and in ways we might not imagine. With his trademark narrative panache, Lowenstein unravels the truth about how pensions work in America and illuminates the impending crisis.
©2008 Roger Lowenstein (P)2008 BBC Audiobooks AmericaListeners also enjoyed...




















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What did you like best about While America Aged ? What did you like least?
If the author set out to simply document the intricacies of three unrelated cases of overgenerous pension systems swamping their providers, like a parasite killing its host, a fine book. But the author also appends a conclusion to the book and short editorializing throughout that seem to belong to a different book. The author doesn't realize that the three examples he thoroughly details are actually a giant beacon warning others to avoid the same path, and incongruously advocates further adoptions of pension systems...even after his devoted cataloging of their disastrous effects. It's a very strange book.If you’ve listened to books by Roger Lowenstein before, how does this one compare?
Narration was greatWhich character – as performed by Michael McConnohie – was your favorite?
I didn't even realize the narration was done by separate voices. Very pleasant presentation.If this book were a movie would you go see it?
No. It's like 10 hours documenting the many, hellish dangers of smoking, but from a guy who thinks everyone should still be buying and consuming cigarettes, just in moderation.Confusing mix of evidence and conclusions
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Read this book before the next strike is threatened.
A dry departure from L's usual page turner, but
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True stories you won't forget
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Timely information neutral presentation
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While America Aged
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Consumer Beware
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Good for younger generation to read
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Informative and very well written.
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More detail than I wanted
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In the private sector, as once dominant companies and industries suddenly faced foreign competition, a much smaller number of active workers (or a downsized corporation) made pension payments far below what was required to meet contractual obligations of a larger number of pensioners who were living much longer than projected. The math rarely worked. And even when it did, cash-strapped corporation made deals with unions to reduce or suspend payments, thus kicking a financial crisis down the road. Foreign competition alone didn't end US dominance of certain industries. Rather, it was foreign competition unburdened by pension obligations that offered products at a lower price (even after shipping across the Pacific Ocean).
In the public sector, different forces are at play. First, governments don't go out of business or relieve themselves of pension responsibilities by declaring bankruptcy. Second, the people handing out more generous pension benefits have no real financial stake in the fiscal impact of their actions, since they don't have personal funds at risk and won't be there when the obligations come due. Third, unlike private pensioners, public pension beneficiaries can fire those who try to rein in pension benefits by voting them out of office.
Lowenstein describes in detail how three different entities - one private company and two units of government - approached union negotiations and pensions. He adds corollary stories about other entities in similar situations and how they handled the issue. Bottom line: A few were able to effect real change before a crisis, but most either were blind or spineless to propose action that would stabilize pension obligations.
If you're interested in the competitive nature of global markets, private pensions, public pension, or the challenges that Social Security faces, read this book. It'll be your best investment of nine ours and 13 minutes. Have only eight hours to spare? Adjust the speed to 1.25, and it'll be the best eight hours that you can invest in understanding this issue.
Must Reading to Understand the Challenges of Pensi
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