The Problem of Twelve : : When a few Financial Institutions Control Everything
Book - 2023 332.06 Co, Adult Book / Nonfiction / Business & Economics / General / Coates, John 1 On Shelf No requests on this item
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Call Number: 332.06 Co, Adult Book / Nonfiction / Business & Economics / General / Coates, John
On Shelf At: Downtown Library
| Location & Checkout Length | Call Number | Checkout Length | Item Status |
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Downtown 2nd Floor 4-week checkout |
332.06 Co | 4-week checkout | On Shelf |
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Westgate Adult Books 4-week checkout |
Adult Book / Nonfiction / Business & Economics / General / Coates, John | 4-week checkout | Due 05-20-2024 |
"A "problem of twelve" arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nation. The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S&P 500 companies--a concentration of power that's unprecedented in America. Then there's the rise of private equity funds such as the Big Four of Apollo, Blackstone, Carlyle and KKR, which has amassed $2.7 trillion of assets, and are eroding the legitimacy and accountability of American capitalism, not by controlling public companies, but by taking them over entirely, and removing them from public discourse and public scrutiny. This quiet accumulation in the last few decades represents a dramatic transformation in how the American economy operates--a sea change that few of us have noticed and all of us need to consider. Harvard law professor John Coates forcefully calls our attention to what is sure to be one of the major political and economic issues of our time." -- Back cover.
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PUBLISHED
New York, NY : Columbia Global Reports, [2023]
Year Published: 2023
Description: 188 pages : illustrations, map ; 19 cm
Language: English
Format: Book
ISBN/STANDARD NUMBER
9798987053546
SUBJECTS
Financial institutions.
Index mutual funds.
Private equity.