The Battle for the Soul of Capitalism
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A financial expert explains what’s wrong in corporate, investment, and mutual fund America, the reasons behind the problems, and what should be done about it The New York Times - Jeff Madrick … we should be grateful that an insider like him is willing to elucidate the often murky and apparently deceptive workings of the Street. John Bogle has been making Wall Street a better place for decades. His book is yet another important contribution in an illustrious career.
Contents Foreword by the Honorable Peter G. Peterson....................ixAcknowledgments....................xiIntroduction: Capitalism and American Society....................xvPART I: CORPORATE AMERICA....................11 What Went Wrong in Corporate America? "A Pathological Mutation"....................32 Why Did Corporate America Go Wrong? "Somebody's Gotta Keep an Eye on These Geniuses"....................293 How to Return Corporate America to Its Owners: "Owners of the World, Unite!"....................47PART II: INVESTMENT AMERICA....................694 What Went Wrong in Investment America? King Kong, or Mighty Joe Young?....................715 Why Did Investment America Go Wrong? The Momentary Precision of Stock Prices Versus the Eternal Importance of Intrinsic Values....................926 How to Fix Investment America: "Capitalism Without Owners Will Fail"....................117PART III: MUTUAL FUND AMERICA....................1397 What Went Wrong in Mutual Fund America? The Triumph of Salesmanship over Stewardship....................1418 Why Did Mutual Fund America Go Wrong? "Losing Our Way"....................1699 How to Fix Mutual Fund America: "Organized, Operated, and Managed" for Shareholders....................191PART IV: CONCLUSION....................21510 American Capitalism in the Twenty-first Century: "To Begin the World Anew"....................217Notes....................243Index....................253
