Battle for the Soul of Capitalism

By John C Bogle
There is no one better qualified to tell us about the failures of the American financial system and the grotesque abuses that have taken place in recent years than John Bogle, who as founder and former chief executive of the Vanguard mutual funds group has seen firsthand the innermost workings of the financial industry. A zealous advocate for the small investor for more than fifty years, Bogle has championed the restoration of integrity in industry practices. As an astute observer and commentator, he knows that a trustworthy business and financial complex is essential to America's continuing leadership in the world and to social and economic progress at home.
This book tells not just a story about what went wrong but, more important, the story of why we lost our way and of how we can right our course. Bogle argues for a return to a governance structure in which owners' capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical. Every investor, analyst, Wall-Streeter, policy maker, and businessperson should read this deeply informed book.


NEWS & OPINION: Does This Post Plug John Bogle's New Book?

Posted April 19, 2006, 2:43 PM with category of Management & Workplace Culture
There are certain books that suffer from extreme author self-promotion. Contrary to recent published reports, John Bogles Battle for the Soul of Capitalism is not one of them. On Saturday the Wall Street Journal ran a snarky item headlined Man of Letters: Bogle Joins Campaign Urging SEC to Act on Executive PayAnd cites His New Book. Read more

NEWS & OPINION: Forbes' Best Business Books of 2005

Posted January 27, 2006, 2:58 PM with category of Personal Development & Human Behavior
I thought we had seen all of the lists for 2005, but Forbes published their selections on Tuesday. To determine the very best of the crop, we polled a dozen writers, editors and publishers from Forbes. Thirty-three books were nominated, which we then winnowed down to the five very best, with the help of the editors of Forbes magazine and Forbes. Read more

NEWS & OPINION: Barrons' Best of Books of 2005

Posted December 29, 2005, 1:30 PM with category of Management & Workplace Culture
In the December 5, 2005 issue of Barron's, Jay Palmer wrote a piece called The Best Books of 2005. Here is his list: A Crack in the Edge of the World: America and the Great California Earthquake of 1906 by Simon Winchester Blood on the Street: The Sensational Inside Story of How Wall Street Analysts Duped a Generation of Investors by Charles Gasparino Collapse: How Societies Choose to Fail or Succeed by Jared Diamond Conspiracy of Fools: A True Story by Kurt Eichenwald DisneyWar by James B. Stewart Fortune's Formula: The Untold Story of The Scientific Betting System That Beat the Casinos and Wall Street by William Poundstone One Billion Customers: Lessons from the Front Lines of Doing Busienss in China (Wall Street Journal Book) by James McGregor The Battle For The Soul of Capitalism by John Bogle The Big Picture: The New Logic of Money and Power in Hollywood by Edward Jay Epstein The Emperor of Wine: The Rise of Robert M Parker, Jr. Read more

EXCERPTS: The Battle For The Soul of Capitalism - Part XXIV

Posted December 13, 2005, 8:23 PM with category of Management & Workplace Culture
A New Kind of Capitalism The change from traditional owners’ capitalism to the new managers’ capitalism is at the heart of what went wrong in corporate America. It was reflected in the stock market bubble and the subsequent market burst, during which at least $2 trillion of wealth was transferred from public investors to corporate insiders, entrepreneurs, and financial intermediaries. Largely through stock options, executive compensation reached extraordinary levels, despite the production of corporate profits that were in fact, measured by the growth of our economy, less than ordinary. Read more

EXCERPTS: The Battle For The Soul of Capitalism - Part XXIII

Posted December 13, 2005, 8:19 PM with category of Management & Workplace Culture
Future Pension Fund Returns Nowhere is the fiction of managed earnings more apparent than in the assumptions of future returns made by corporate pension funds. Over the past decade the yield on the ten-year U. S. Read more


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ISBN: 9780300109900

About the Hardcover

Publisher Yale University Press
Publish date 10/01/2005
Pages 260
ISBN-13 9780300109900
ISBN-10 0300109903
Language English