The Battle for the Soul of Capitalism
By: John C. Bogle
Yale University Press 2005
Review by: Jennifer G. Cuthbertson
Corporate scandals, under-funded pensions, and the arrest of top executives are all a part of modern corporate culture. But, it has not always been this way, and it does not have to be this way today. In The Battle for the Soul of Capitalism, John C. Bogle details how the financial system undermined social ideals, damaged trust in the markets and robbed investors of trillions. He also outlines the steps that need to be taken to put the governance of the nation’s corporations back on track.
Both institutional and individual investors will have to change their mindset and once again treat stocks as a long-term investment. Corporate leaders will also have to change their mindset and remember who they work for and what they are responsible for. This book is must reading for executives and investors alike.