Thanks for shopping indie!
Shipping options »
List Price $17.00
In Stock
The Problem of Twelve: When a Few Financial Institutions Control Everything

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

Author John Coates
Publisher Columbia Global Reports
Publication Date 2023-08-15
Section New Titles - Paperback / Economics
Type New
Format Paperback
ISBN 9798987053546

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.

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.

There are no customer reviews for this item yet.

Classic Totes

Tote bags and pouches
in a variety of styles,
sizes, and designs
, plus mugs, bookmarks, and more!

Learn More »

Shipping & Pickup

We ship anywhere in the U.S. and orders of $75+ ship free via media mail!

Learn More »

Noteworthy Signed Books: Join the Club!

Join our Signed First Edition Club (or give a gift subscription) for a signed book of great literary merit, delivered to you monthly.

Learn More »