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MARC Record from Library of Congress

Record ID marc_loc_2016/BooksAll.2016.part42.utf8:37259175:2119
Source Library of Congress
Download Link /show-records/marc_loc_2016/BooksAll.2016.part42.utf8:37259175:2119?format=raw

LEADER: 02119cam a2200313 i 4500
001 2015001596
003 DLC
005 20150912131341.0
008 150406s2015 nyua b 001 0 eng
010 $a 2015001596
020 $a9781107076129 (hbk.)
020 $a9781107430754 (pbp.)
040 $aDLC$beng$erda$cDLC
042 $apcc
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 Milevsky, York University, Toronto.
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 0 $aCambridge studies in comparative politics
504 $aIncludes bibliographical references (pages 239-247) and index.
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.
650 0 $aTontine life insurance policies.
650 0 $aRetirement income.
856 42 $3Cover image$uhttp://assets.cambridge.org/97811070/76129/cover/9781107076129.jpg