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While America Aged
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About the Author

Roger Lowenstein, author of the bestselling Buffett: The Making of an American Capitalist and When Genius Failed: The Rise and Fall of Long-term Capital Management, reported for the Wall Street Journal for more than a decade and wrote the Journal's stock market column "Heard on the Street" and also its "Intrinsic Value" column. He now contributes articles and reviews to the Journal and the New York Times Magazine and is a columnist for SmartMoney Magazine. He lives in Westfield, New Jersey.

Reviews

America's impending pension problem is brutally simple: private companies and governments have pledged to provide retirement income and health care for workers, but have not set aside the money to make good on their promises. Typical accounts of the crisis tend to obfuscate the issue and fixate on laying blame, but Lowenstein (Origins of the Crash) has a refreshing perspective--he tells three fascinating stories in American economic history and situates the current pension problems in the struggle for dignity for workers. Lowenstein regards fixing pensions as a worthy culmination to a century's struggle for justice rather than a painful chore unfairly foisted on the present by the past. Unfortunately, after this incisive and inspiring history lesson, the 10 pages at the end devoted to solutions are too abstract and unoriginal. The book gives the reader lively stories and historical insight, but may disappoint those looking for policy recommendations. (May 5) Copyright 2008 Reed Business Information.

" Financial journalist Roger Lowenstein uses the stories of three deeply encumbered institutions . . . as examples not only of the way most individual Americans conduct their personal finances, but also of how the country as a whole has long lived beyond its means. . . . Gripping."
-Phillip Longman, The Washington Post

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