In 2021 the pension assets of U.S. workers stood at 35 trillion dollars and amounted to fully 62 percent of all global pension assets. For almost half a century, this money has fueled the growth of the asset management sector, the likes of BlackRock, Vanguard, and Fidelity Investments to name only a few. New Labor Forum author Benjamin Braun casts a critical eye on the investment practices of collectively bargained Taft-Hartley pension funds which have contributed so significantly to the rise of a bloated financial sector. He also discusses efforts to redirect labor’s capital to the benefit of workers and to investment in public goods projects, such as infrastructure and renewable energy.
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