Pension reform and economic theory : a non orthodox analysis The book is the first of its kind to attempt to deal with the economics of pensions and ageing on the basis of a rigorous theoretical framework alternative to neoclassical economics. Sergio Cesaratto breaks the dominant conformism in the current pension debate and explains that the strength of the various reforms proposed depends on the validity of the economic theories on which they are respectively based. He also illustrates the relevance of the Sraffian criticism to undermine the theoretical core of the mainstream proposals 1. Alternative views of PAYG as a social institution 2. Re engineering PAYG : the controversy over the Notional Defined Contribution Reforms 3. The conventional interpretation of a fully funded scheme and capital theory 4. The transition from PAYG to FF schemes 5. The controversy over the social security surplus 6. The classical Keynesian macroeconomics of pension reform in closed and open economies 7. Classical and neoclassical perspectives on the welfare state and pensions 8. The viability of an ageing society : a classical exploration 9. Summary of the main arguments