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In this essay, I discuss the problems associated with the rise of institutional investors and the concentration of stock ownership. I seek to answer the question, What is the public interest that the modern corporation should serve? I provide solutions for achieving a modern capitalism that place fiduciary duty and the public interest first.

About the Author

John C. Bogle

John C. Bogle is founder and former chief executive of the Vanguard Group, Valley Forge, Pennsylvania, and president of its Bogle Financial Markets Research Center.

Additional Information

Published by CFA Institute


ISSN: 0015-198X

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