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Twentieth Century Fund Book

Public and private pensions control almost a quarter of the United States' tangible wealth—equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock.

Author of two widely-read books on the defense industry, Jacques Gansler takes a hard look at the need to convert the industry from an inefficient and noncompetitive part of the U.S. economy to an integrated, civilian/military operation. He defines the challenges, especially the influence of old-line defense interests, and presents examples of restructuring.

Federal Roles and Responsibilities


Were water considered an industry, it would be one of the largest in the United States, surely the most capital-intensive, and the most closely regulated by Congress. Yet as Peter Rogers argues in this readable, pragmatic, and scientifically grounded assessment of national water issues, it would also be one of the most fragmented and least coherent areas of public policy.