MARC Record from marc_columbia

LEADER: 03070cam a22004578i 4500
001 11549036
005 20151019134644.0
008 150406s2015 nyua b 001 0 eng
010 $a 2015001596
019 $a907093655
020 $a9781107076129 (hardback)
020 $a1107076129 (hardback)
020 $a9781107430754 (paperback)
020 $a1107430755 (paperback)
035 $a(OCoLC)ocn907189828
035 $a(OCoLC)907189828$z(OCoLC)907093655
035 $a(NNC)11549036
040 $aDLC$beng$erda$cDLC$dBTCTA$dZCL$dYDXCP$dOCLCF$dGZN$dGZM
042 $apcc
043 $ae-uk-en
050 00 $aHG8817$b.M55 2015
082 00 $a368.3/7$223
100 1 $aMilevsky, Moshe Arye,$d1967-
245 10 $aKing William's tontine :$bwhy the retirement annuity of the future should resemble its past /$cMoshe A. Milevsky, York University, Toronto.
263 $a1505
264 1 $aNew York, NY :$bCambridge University Press,$c2015.
300 $axv, 257 pages :$billustrations ;$c24 cm.
336 $atext$2rdacontent
337 $aunmediated$2rdamedia
338 $avolume$2rdacarrier
490 1 $aCambridge studies in comparative politics
520 $a"In a time before bonds, treasury notes, or central banks, there were tontines. These were schemes in which a group of investors lent money to a government, corporation, or king, similar to a modern-day loan syndicate. But unlike conventional debt, periodic interest payments were distributed only to survivors. As tontine nominees died, the income of survivors correspondingly increased. Morbid, perhaps, but this was one of the earliest forms of longevity insurance in which the pool shared the risk. Moshe Milevsky tells the story of the first tontine issued by the English government in 1693, known as King William's tontine, intended to finance the war against French King Louis XIV. He explains how tontines work, the financial and economic thinking behind them, as well as why they fell into disrepute. Milevsky concludes with a provocative argument that suitably modified tontines should be resurrected for twenty-first century retirement income planning"--$cProvided by publisher.
504 $aIncludes bibliographical references and index.
505 8 $aMachine generated contents note: 1. King Billy, Protestant hero of England; 2. Tontine's economic origins: cheaper debt; 3. A most curious Will(iam) and older than you think; 4. The million act to fight a war against France; 5. Don't Englishmen die? Anti-selection vs. fraud; 6. Is your tontine a stock or a bond?; 7. Optimal tontine: hedging (some) longevity risk; 8. Conclusion: tontines for the twenty-first century.
650 0 $aTontine life insurance policies.
650 0 $aRetirement income.
650 7 $aRetirement income.$2fast$0(OCoLC)fst01096344
650 7 $aTontine life insurance policies.$2fast$0(OCoLC)fst01715873
830 0 $aCambridge studies in comparative politics.
856 42 $3Cover image$uhttp://assets.cambridge.org/97811070/76129/cover/9781107076129.jpg
852 00 $boff,bus$hHG8817$i.M55 2015