The World Bank's New Social Policies: Pensions

Over the last 15 years, the world has become the scene of struggles between major inter‐national stakeholders regarding the policies required for economic prosperity and social development. The World Bank plays a dominant role here. In this article, the author highlights the epistemic revolution the policy field has undergone under the aegis of the Bank. He analyses the basic aspects of the new orthodoxy regarding pensions and the effects on the policies of the governments concerned. He concludes with an examination of the theoretical and practical relevance of the recommendations and asks to what extent the Bank is able to learn from its own mistakes.