Word: sheepdip
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Dates: during 1970-1979
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...alternative uses of pension capital. It also serves as a timely antidote to peter Drucker's 1976 apologia for the status quo, The Unseen Revolution: How Pension Fund Socialism came to America. Drucker's notion that "the United States is the first truly 'Socialist' country" is so much sheepdip. The fact that public and private pension funds "own" more than one-third of America's equity capital means nothing, as long as the people these funds represent have no say in their investment...
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