Journals Higher Education



Published: 29 June 2016

264 Pages

6-1/8 x 9-1/4 inches

ISBN: 9780199398560

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Bookseller Code (06)

Empire of the Fund

The Way We Save Now

William A. Birdthistle

  • Controversial thesis: this book argues that our entire system of saving is deeply flawed
  • Vivid illustrations of illegality: several chapters describe the creative array of diabolical ways fund advisers can pilfer our savings
  • Provocative solutions: the conclusion pushes for two concrete plans to improve our system by requiring financial licenses to invest outside of standard investment options and by giving ordinary investors far greater bargaining power by granting them access to the federal Thrift Savings Plan
  • The thesis is noteworthy because, at a time when many are pushing to expand individual accounts (by cutting pensions for public employees or privatizing Social Security), this book argues for caution and, indeed, solutions that would grant investors greater knowledge and bargaining power.

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