Benjamin H. Harris – författare

A comprehensive plan from two leading experts on how to fix America's outdated retirement systemAmerica's retirement system has serious problems. While it works well for some retirees, millions of others don't have the sound retirement they have worked decades to secure. Roughly 40 percent of today's $4 trillion federal budget is devoted to supporting retirees, which will grow to roughly half over the next decade-imperiling the sustainability of the whole system. The system is out of date. It reflects the America of a bygone age--an era in which company or union pensions provided middle-class families a decent standard of living in retirement. In America today, however, private pensions have mostly disappeared, Social Security is threatened to go insolvent, people are living longer, and health care costs continue to rise. Poorer retirees now must choose between buying enough to eat and their prescription drugs.In The Retirement Challenge, influential former White House economists Martin Neil Baily and Benjamin H. Harris explore America's outdated retirement system and explain how improving retirement requires changes by families, employers, and policymakers alike. Households need to save more, get smarter about their finances, and trade part of their 401(k) balances for insurance products. Companies need to take a more active role in their workers' retirements. And lawmakers need to amend the tax code, Social Security, and a host of other programs.Despite today's wide political divide, policymakers from both parties can come together around changes that will promote a stable retirement. This book shows that these changes do not represent a radical overhaul. If families, businesses, and policymakers do their part, everyone-current retirees and future generations-can enjoy a much more secure and prosperous retirement.

A comprehensive plan from two leading experts on how to fix America''s outdated retirement systemAmerica''s retirement system has serious problems. While it works well for some retirees, millions of others don''t have the sound retirement they have worked decades to secure. Roughly 40 percent of today''s $4 trillion federal budget is devoted to supporting retirees, which will grow to roughly half over the next decade--imperiling the sustainability of the whole system. The system is out of date. It reflects the America of a bygone age--an era in which company or union pensions provided middle-class families a decent standard of living in retirement. In America today, however, private pensions have mostly disappeared, Social Security is threatened to go insolvent, people are living longer, and health care costs continue to rise. Poorer retirees now must choose between buying enough to eat and their prescription drugs.In The Retirement Challenge, influential former White House economists Martin Neil Baily and Benjamin H. Harris explore America''s outdated retirement system and explain how improving retirement requires changes by families, employers, and policymakers alike. Households need to save more, get smarter about their finances, and trade part of their 401(k) balances for insurance products. Companies need to take a more active role in their workers'' retirements. And lawmakers need to amend the tax code, Social Security, and a host of other programs.Despite today''s wide political divide, policymakers from both parties can come together around changes that will promote a stable retirement. This book shows that these changes do not represent a radical overhaul. If families, businesses, and policymakers do their part, everyone--current retirees and future generations--can enjoy a much more secure and prosperous retirement.

A comprehensive plan from two leading experts on how to fix America''s outdated retirement systemAmerica''s retirement system has serious problems. While it works well for some retirees, millions of others don''t have the sound retirement they have worked decades to secure. Roughly 40 percent of today''s $4 trillion federal budget is devoted to supporting retirees, which will grow to roughly half over the next decade--imperiling the sustainability of the whole system. The system is out of date. It reflects the America of a bygone age--an era in which company or union pensions provided middle-class families a decent standard of living in retirement. In America today, however, private pensions have mostly disappeared, Social Security is threatened to go insolvent, people are living longer, and health care costs continue to rise. Poorer retirees now must choose between buying enough to eat and their prescription drugs.In The Retirement Challenge, influential former White House economists Martin Neil Baily and Benjamin H. Harris explore America''s outdated retirement system and explain how improving retirement requires changes by families, employers, and policymakers alike. Households need to save more, get smarter about their finances, and trade part of their 401(k) balances for insurance products. Companies need to take a more active role in their workers'' retirements. And lawmakers need to amend the tax code, Social Security, and a host of other programs.Despite today''s wide political divide, policymakers from both parties can come together around changes that will promote a stable retirement. This book shows that these changes do not represent a radical overhaul. If families, businesses, and policymakers do their part, everyone--current retirees and future generations--can enjoy a much more secure and prosperous retirement.

Exploring a new agenda to improve outcomes for American workersAs the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law.For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well.This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections.Inequality and the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.