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

by Coates, John | New Book | In Stock

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Description

The forces behind an economic and political crisis in the making


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.

Summary: The forces behind an economic and political crisis in the making A 'problem of twelve' arises when a small number of institutions acquire the means. 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. A satisfying read for those who appreciate clear writing and strong themes. Recommended for those who value compelling writing and lasting impact.
The Problem of Twelve: When a Few Financial Institutions Control Everything book gives The Problem of Twelve: When a Few Financial Institutions Control Everything a focused place in a paperback presentation. With Coates, John listed as the author or maker, this title is a natural option for someone seeking this particular title. It contains 190 pages, is listed in English, and and is published by Columbia Global Reports.
This is a Paperback book.

*This book is returnable


Author(s): Coates, John
Book Type: New Book
Genre: Private Equity, Free Enterprise & Capitalism, Corporate Governance
Format: Paperback
ISBN-10:
EAN: 9798987053546
Language: English
Number of Pages: 190
Publication Date: 2023-08-15
Publisher: Columbia Global Reports
Weight: 0.45 Pounds

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