The publicly traded, limited liability company is the engine of the modern western economy. Its investments support our prosperity. It is our money that funds these companies, and, through investment institutions, we reap the dividends from their profits to pay for our pensions and other costs. Put simply, public companies and investment institutions are two of the great social innovations of the last two hundred years. Without them, it is difficult to imagine a functioning modern economy.
What We Lose When Giant Investment Funds Run All Our Companies
At one mutual fund, a single employee oversees governance of 10,000 firms.
July 19, 2016