ABSTRACT
Dubbed ‘workers’ capital’ by early American observers, the way this form of ‘financialisation’ occurred and how different countries’ systems of ‘pension-fund socialism’ developed have emerged as key issues in the wake of the 2008 Global Financial Crisis. Australia had inherited a system of occupational pensions typical of that still found among what theorists of capitalism distinguish as ‘liberal market economies’. Industry-wide occupational pension arrangements are not an Australian invention, but it is hard to point to a comparable retirement savings system internationally where trade union influence in the development, reform and management of systems of workers’ capital has been and remains so patently obvious. Historical documents such as minutes of meetings, legislation, government reports and other such fundamental records traditionally have formed the basis of the best historical accounts. The chapter also presents an overview of the key concepts discussed in this book.
