Our future welfare depends on creating a radically different pension system, argues Robin Blackburn.
There is no other issue that takes us so quickly to the heart of the problems of today's welfare state and tomorrow's capitalism than the pensions crisis. This is because pension provision will soon be required to assure the livelihood of something like a fifth of the population for many decades ahead. The implications for capital are fundamental. After all, the capitalist disposes of today's economic assets and wages fund in order to be able to control the future flow of profits.