Abstract
Abstract Community development advocates often look to pension funds as significant, albeit untapped, sources of finance. More than twenty years ago, Rifkin and Barber (1978) claimed that community control of workers’ pension fund assets could promote alternative forms of corporate ownership, and reverse the decline of the lJS industrial heartland. Notwithstanding the enormous loss of unionized jobs and community dislocation occasioned by corporate restructuring, the Northeast and Midwest have seen a renaissance in terms of labour productivity and investment in value-added production. Even so, labour leaders continue to lament the fact that ‘workers’ own pension funds’ have fuelled ‘the continuing spiral of corporate mergers and downsizing’, and have called for strategies to take control of ‘our money in support of long-term, quality jobs’ in local communities.
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