Blog
Multiemployer Pensions, the Tragedy of the Commons, and the “Last Man Standing” Rule
The “tragedy of the commons,” as described by the late ecologist Garrett Hardin, generally refers to the depletion of a finite resource caused by…
Forbes
Ma Bell’s Long Legacy of Unsustainable Pensions Is Alive and Well
“Communism,” comedian Lenny Bruce once quipped, “is like one big phone company.” This dated joke refers to the monolithic phone company known as “Ma Bell,”…
Blog
Rhode Island Pension Reform Shows Boldness Pays
Across the nation, large and growing budget deficits have forced politicians from across the political spectrum, including some Democrats, to seek to bring public employee…
Blog
Some Good News on Pensions, for a Change
Over the last four years, state governments across the nation have been trying to bring their labor costs under control, especially pensions, which are now…
Blog
If PBGC Cannot Go On Taking Over Pensions, It Will Stop
Herbert Stein’s law — “If something cannot go on forever, it will stop” — is being proven right once again. This time, what cannot go…
Blog
Structural Factors of the Municipal Pension Crisis
Public employee pensions are sinking local governments. Over the last four years, they have even pushed some municipalities into bankruptcy -- from Vallejo, California, to Central…