Passive Power: Do Index Funds Hurt the Economy?
Many Happy Returns
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The Debate on Passive Vehicles and their Impact on the Economy
This chapter explores the debate surrounding the use of passive vehicles and their potential harm to the economy. It discusses the social benefits of active managers competing to allocate capital to undervalued firms, which is undermined by passive funds. The chapter also examines the concept of common ownership and its effects on industries such as airlines and pharmaceuticals.
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