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January 13, 2006



"gotten these gains"? Bloody hell, next you'll be careening through the streets, referring to normalcy and parsing sentences for their meaning.


surely the motivating assumption here is the one that all DB schemes are company-specific rather than industry-wide, which isn't the case in a number of systems.



[Sure, there's risk to a worker in a DC scheme - but people should in theory be compensated for taking risks]

the whole point about risk pooling is that it doesn't matter very much that people are compensated "on average" for bearing risks if you're the one who gets stuck with the black queen.

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