The Battle for the Soul of Capitalism

by John C. Bogle

Book Overview

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 There is no one better qualified to tell... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0300109903
• ISBN13: 9780300109900
• Release Date: November 2005
• Publisher: Yale University Press
• Length: 260 Pages
• Weight: 1.32 lbs.
• Dimensions: 0.9" x 6.4" x 9.6"

Customer Reviews

A Battle That Must Be Won

John Bogle points out what should have been obvious to me - that the ultimate owners of investment capital have virtually no influence on how their own capital is used. Instead the agents of the owners control the capital and act in a very self-interested incestuous manner. In short, they have stolen the soul of capitalism and robbed investors of trillions of dollars. This book could only have been written by John Bogle, the man that has saved the common investor billions of dollars annually by refusing to operate in a status quo manner. This book eloquently explains what went wrong, why it went wrong, and most importantly, what we can do to fix it. I was steaming mad as I again realized how our trusted fiduciaries violated their duties of loyalty and prudence. The big question for me is will I stay mad enough to actually do something about it? I highly recommend this book. It may be the first major shot in a long battle for capitalists to take back control of our own capital.

A True Friend of Capitalism

The individual investor has no better friend than Jack Bogle. Not only did he introduce index funds as a significant investment alternative some thirty years ago, but he has consistently and uncompromingly spoken out against the shareholder-unfriendly practices of his own mutual fund industry. "The Battle for the Soul of Capitalism" is a beautifully written, persuasively argued overview of how corporate and investment fund shareholders are short-changed. More importantly, Bogle offers sensible reforms to fix the problems. This is more than an investor's book, it is an essential book for all caring citizens.

"The Battle for the Soul of Capitalism"

Jack Bogle, often called the "concience of the industry," has written a powerful book on a subject that concerns every American--"capitalism." As founder and retired CEO of the second largest mutual fund company in the world, Mr. Bogle understands capitalism. He has the unusual ability (for a businessman) to write beautifully, logically and understandably for the average reader. "The Battle for the Soul of Capitalism" is the result. The thrust of Mr. Bogle's message (documented over and over) is that corporations are now controlled by their managers--not by their owners (shareholders). (The average CEO compensation has soared to 280 times that of the average worker.) Mr. Bogle deftly lays out the problem, but more importantly, he gives us the solution that will return capitalism to its owners and value creation. I could not put the book down. Taylor Larimore, Miami, Florida

A Wake Up Call

In his usual tell-it-like-it-is, no-holds-barred fashion, Jack Bogle names names and affixes blame where it belongs as he outlines the major problems facing our present system of capitalism, with special emphasis on the greed and coruption in corporate America and in the investment arena, and the failure of our "gatekeepers" to do their jobs properly. Like the true leader and visionary that he is, Bogle not only identifies the problems, but offers sound solutions as well. Powerful stuff! A must-read for investors as well as those who care about the future of American capitalism.