Over the past fifty years, the pension fund industry has mushroomed into the largest concentration of managed money in the world. The investment decisions and financial innovations of pension fund managers reverberate throughout the global financial markets. Written by a journalist who has covered the pension fund industry for over twenty-five years, The Money Flood tells the story of how the pension fund industry came to dominate the financial markets. It also offers a sobering look into the future when baby boomers will begin removing their vast wealth from the markets and the growing number of 401(k) plans will shift investing power away from the pension fund managers.
The material is relevant and is a readable volume for anyone with a serious interest in the theory of globalisation. (barnesandnoble.com)