| Popis: |
UNLIKE THE PRECEDING PAPER by Mr. Murray devoted to the investment aspects of pension funds, this paper is necessarily speculative in character. While pension funds are only recently an important investment market factor, investment policy is already being shaped in practice. Mr. Murray, associated with a leading institution in this field, is in a strategic position to indicate these developing policies, even though they may change as time passes. Only a person endowed with second sight, however, could speak with any certainty as to the effects these funds as channeled through pension funds will have upon the economy. It is hoped that a general disclaimer at this point of any such pretensions will be regarded as an advance apology for any too dogmatic statements or too venturesome guesses that may follow. |
