Households in the United States face serious challenges to enjoying income security in retirement. This paper critically appraises two policy initiatives ostensibly geared to helping to meet those challenges.  One already embodied in law - the federal Pension Protection Act of 2006 (the "Act") - and the other in the form of Obama administration and legislative proposals, use automatic enrollment in employment-based defined contribution (DC) plans and Individual Retirement Accounts, respectively, along with default investments as means toward that end.

The paper describes the rationales offered at the time for the Act's provisions, the manner in which the enacted policies have been implemented, and how effective they have been and are likely to be. It assesses the strength of the evidence available at the time to support advocates' contentions that automatic enrollment would be a success. It then considers the post-enactment literature on the outcomes of automatic enrollment. It follows with a review of the literature on persistence (over time) of contributions to defined contribution (DC) plans and how realistic or justifiable were expectations for the success of the Act's provisions. The paper then characterizes the IRA proposals and examines studies of the persistence of contributions to IRAs. Next it evaluates the workings and outcomes of New Zealand's KiwiSaver scheme, the one already in operation which most closely resembles what proponents urge should be done with respect to IRAs. Finally, drawing on the findings and observations in the preceding sections, the paper offers a broader perspective on the directions policy should take if there is to be a serious prospect of ensuring retirement income security for all households in this country.

The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm’s performance, also reflect this new attitude toward labor.

Shared Capitalism at Work analyzes the effects of this trend on workers and firms. The contributors focus on four main areas: the fraction of firms that participate in shared capitalism programs in the United States and abroad, the factors that enable these firms to overcome classic free rider and risk problems, the effect of shared capitalism on firm performance, and the impact of shared capitalism on worker well-being. This volume provides essential studies for understanding the increasingly important role of shared capitalism in the modern workplace.

Beginning in the early 2000s, there was an upsurge of national concern over the state of the science and engineering job market that sparked a plethora of studies, commission reports, and a presidential initiative, all stressing the importance of maintaining American competitiveness in these fields. Science and Engineering Careers in the United States is the first major academic study to probe the issues that underlie these concerns.

This volume provides new information on the economics of the postgraduate science and engineering job market, addressing such topics as the factors that determine the supply of PhDs, the career paths they follow after graduation, and the creation and use of knowledge as it is reflected by the amount of papers and patents produced. A distinguished team of contributors also explores the tensions between industry and academe in recruiting graduates, the influx of foreign-born doctorates, and the success of female doctorates. Science and Engineering Careers in the United States will raise new questions about stimulating innovation and growth in the American economy