We’re using cookies, but you can turn them off in Privacy Settings.  Otherwise, you are agreeing to our use of cookies.  Accepting cookies does not mean that we are collecting personal data. Learn more in our Privacy Policy.


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

Jack Bogle Headshot
John C. Bogle

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