The Problem of Twelve
When a Few Financial Institutions Control Everything
Failed to add items
Sorry, we are unable to add the item because your shopping cart is already at capacity.
Add to basket failed.
Please try again later
Add to Wish List failed.
Please try again later
Remove from Wish List failed.
Please try again later
Follow podcast failed
Unfollow podcast failed
Select 1 audiobook a month from our entire collection.
Listen to your selected audiobooks as long as you're a member.
Auto-renews at $8.99/mo after 30 days. Cancel anytime.
The Problem of Twelve
Narrated by:
Sean Patrick Hopkins
Buy Now for $15.99
-
Narrated by:
-
Sean Patrick Hopkins
-
By:
-
John Coates
About this listen
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 Three index funds of Vanguard, State Street, 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 the government’s regulation.
What can be done to check this level of power? Harvard law professor John Coates argues that only politics can fight the problem of twelve.
* This audiobook edition includes a downloadable PDF that contains charts and illustrations from the book.
No reviews yet
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.