Abstract
The issue of the investment and control of almost $800 billion in US pension fund assets has emerged as a major concern of American trade unionists, public officials and activists. These funds are the major source of new capital in the economy and are expected to become progressively more important over the next generation. Although the financial industry presently has almost complete control over these assets, there is a growing movement to challenge that control and develop viable and concrete alternatives to their investment priorities and practices. Efforts to create 'alternative' investment mechanisms and strategies are only in their initial stages of development, and these efforts require much more critical and supportive analysis. This paper decribes the development of the 'pension issue' in the US and presents examples of alternative investment proposals and actions.
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