The Battle for the Soul of Capitalism
How the Financial System Undermined Social Ideals, Damaged Trust in the Markets, Robbed Investors of Trillions—and What to Do About It
by:
John C. Bogle
in:
Investing
Summary:
The book critiques the transformation of the American financial system, arguing that it has strayed from its original purpose of serving shareholders and the public good to instead prioritizing the self-interests of corporate managers and Wall Street. It discusses the consequences of this shift, including the erosion of trust, the loss of investor wealth, and proposes reforms to realign the system with its foundational values and restore integrity to the markets.
Key points:
1. Ownership Shift: Bogle notes a change from shareholder-driven to manager-driven control in companies, hurting shareholders and society.
Books similar to "The Battle for the Soul of Capitalism":
Enough
John C. Bogle
The Bogle Effect
Eric Balchunas
The Little Book of Common Sense Investing
John C. Bogle
Fooling Some of the People All of the Time, A Long Short Story, Updated with New Epilogue
David Einhorn
Capital Ideas Evolving
Peter L. Bernstein
Makers and Takers
Rana Foroohar
13 Bankers
Simon Johnson|James Kwak
University of Berkshire Hathaway
Daniel Pecaut|Corey Wrenn
The Outsiders
William Thorndike
Invested
Danielle Town|Phil Town