John Coates

Sven Beckert, a Harvard historian and author renowned for his work on global economic history, teams up with John Coates, a Harvard Law professor focused on corporate governance. They delve into capitalism's evolution, highlighting its global roots and the diverse figures who have shaped it—from entrepreneurs to enslaved workers. Coates discusses the alarming rise of concentrated financial power and how index and private equity funds dominate corporate influence, raising democratic concerns. Their conversation urges a reconsideration of capitalism's future amidst pressing environmental and social challenges.

The podcast delves into the dangers of financial consolidation, focusing on the power of the 'Big Four' index funds and private equity firms. They discuss the lack of transparency, challenges of concentrated financial power, and potential solutions for a more equitable economic system.

John Coates, professor of law and economics, discusses his book 'The Problem of Twelve: When a Few Financial Institutions Control Everything' on Macro Musings. They explore the rise of index funds and private equity, their impact on corporate governance, concerns with collusion and conflicts of interest, the influence on capitalism and markets, size and listings on stock exchanges, and potential solutions to the issue of concentrated financial institution control.