In this video abstract, we highlight author John C. Bogle’s perspective on the challenges associated with the rise of institutional investors and the concentration of stock ownership. He seeks to answer the question, what is the public interest that the modern corporation should serve? Bogle’s final article published in the Financial Analysts Journal (Third Quarter 2018, Vol. 74, No. 3: 8–17) provides ideas and suggestions for achieving a modern capitalism that places fiduciary duty and the public interest first.
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