{"product_id":"the-problem-of-twelve-when-a-few-financial-institutions-control-everything-9798987053546","title":"The Problem of Twelve: When a Few Financial Institutions Control Everything","description":"\u003cb\u003eThe forces behind an economic and political crisis in the making\u003c\/b\u003e \u003cp\u003e\u003c\/p\u003e\u003cbr\u003eA \"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. \u003cp\u003e\u003c\/p\u003e\u003cbr\u003eThe Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S\u0026amp;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. \u003cp\u003e\u003c\/p\u003e\u003cbr\u003eWhat can be done to check this level of power? Harvard law professor John Coates argues that only politics can fight the problem of twelve.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Columbia Global Reports\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 08\/15\/2023\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9798987053546\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 189\u003cbr\u003e\u003cbr\u003e\u003cstrong\u003eReview Citations: \u003c\/strong\u003e\u003ci\u003eKirkus Reviews\u003c\/i\u003e 06\/15\/2023\u003cbr\u003e","brand":"John Coates","offers":[{"title":"Default Title","offer_id":42917471191221,"sku":"9798987053546","price":14.45,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0473\/0804\/6492\/products\/img_5d2cfe7b-9726-475f-996c-a7a2d5c1b870.jpg?v=1687285848","url":"https:\/\/pastforward.org\/products\/the-problem-of-twelve-when-a-few-financial-institutions-control-everything-9798987053546","provider":"Past Forward","version":"1.0","type":"link"}