The Problem of Twelve : When a Few Financial Institutions Control Everything

John Coates

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Language: English

Published by Columbia Global Reports Sep 2023, 2023

9798987053546

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Neuware - The forces behind an economic and political crisis in the makingA "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.

Seller Inventory # 9798987053546

Title
The Problem of Twelve : When a Few Financial Institutions Control Everything
Author
John Coates
Publisher
Columbia Global Reports Sep 2023
Publication year
2023
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 13
9798987053546
Item weight
222 grams
Dimensions
188x124x16 mm

AHA-BUCH GmbH

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