Name: King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past (Cambridge Studies in Comparative Politics (Hardcover)) (en Inglés)
Price: 237.03 PEN
Availability: InStock
Author: Moshe A. Milevsky
ISBN: 9781107076129

portada King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past (Cambridge Studies in Comparative Politics (Hardcover)) (en Inglés)

Formato

Libro Físico

Editorial

Cambridge University Press

Autor

Moshe A. Milevsky

Año

2015

Idioma

Inglés

N° páginas

274

Encuadernación

Tapa Dura

ISBN13

9781107076129

Categorías

Historia de la economía

King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past (Cambridge Studies in Comparative Politics (Hardcover)) (en Inglés)

Moshe A. Milevsky (Autor) · Cambridge University Press · Tapa Dura

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Reseña del libro "King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past (Cambridge Studies in Comparative Politics (Hardcover)) (en Inglés)"

In a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to survivors. As tontine nominees died, the income of survivors correspondingly increased. Morbid, perhaps, but this was one of the earliest forms of longevity insurance in which the pool shared the risk. Moshe A. Milevsky tells the story of the first tontine issued by the English government in 1693, known as King William's tontine, intended to finance the war against French King Louis XIV. He explains how tontines work, the financial and economic thinking behind them, as well as why they fell into disrepute. Milevsky concludes with a provocative argument that suitably modified tontines should be resurrected for twenty-first-century retirement income planning.