A Quote by John C. Bogle
Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad apples" that have been evident in our corporations, our investment bankers and our mutual funds, but so many that one has to concede that the barrel itself needs some work.
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Our capitalistic scheme in the latter years of the 20th century seems to have lost its way. We've had a "pathalogical change" from traditional owners capitalism where most of the rewards have gone to those who make the investments and assume the risks to a new and deeply flawed system of managers capitalism where the managers of our corporations our investment system, and our mutual funds are simply take too large a share of the returns generated by our corporations and mutual funds leaving the last line investors - pension beneficiaries and mutual fund owners at the bottom of the food chain.
Move your personal investments and retirement funds to socially responsible investment (SRI) funds that support only those corporations that uphold higher standards of behavior. Returns on SRI funds are usually equal to, if not better than, many of the well-known traditional mutual funds.
I believe that the behavior of too many of our corporations investment bankers and fund managers has jeopardized some of the trust that investors have had. It's not the economic engine that we need to focus on, but the need to make sure that our investors receive their fair share of the returns that that great economic system produces.
I'm not against the corporations. They are our wealth. But they are getting too greedy. I don't want to do away with corporations. I want them to make our cars, however, not our laws.
![Doris "Granny D" Haddock](/assets/images/photos/avatars/doris-"granny-d"-haddock.webp)
We believe the size is almost irrelevant to investment success. Our size has certainly not diminished our enthusiasm for investing in our funds, our ability to find or create opportunities, or our performance outlook.
The simple index fund solution has been adopted as a cornerstone of investment strategy for many of the nation's pension plans operated by our giant corporations and state and local governments. Indexing is also the predominant strategy for the largest of them all, the retirement plan for federal government employees, the Federal Thrift Savings Plan (TSP). The plan has been a remarkable success, and now holds some $173 billion of assets for the benefit of our public servants and members of armed services.
Democracy no longer means what it was meant to. It has been taken back into the workshop. Each of its institutions has been hollowed out, and it has been returned to us as a vehicle for the free market, of the corporations. For the corporations, by the corporations. Even if we do vote, we should just spend less time and intellectual energy on our choices and keep our eye on the ball.
We understand the need to balance our short- and longer-term needs because our revenue is the engine that funds all our innovation. But over time, our emerging high-usage products will likely generate significant new revenue streams for Google as well as for our partners, just as search does today.
Hegemony is not defined by rivers or conventional borders - it's dominance, it's influence. So we get to decide in our hearts, are we in Iraq to help restore something, or are we there to establish dominance? How can you torture people and say, well, that's just a few bad apples in our culture?
It seems to me that our problem has a lot less to do with the mechanics of solar power than the politics of human power—specifically whether there can be a shift in who wields it, a shift away from corporations and toward communities, which in turn depends on whether or not the great many people who are getting a rotten deal under our current system can build a determined and diverse enough social force to change the balance of power.
We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly.
The fruit of our labors is sweet when the work is consecrated to God. But we have to be able to weather the conditions - the winds, the rain or the drought, the brilliant sun and sometimes the bitter cold. Sometimes our work needs to be directed at improving our ground rather than excusing our own harvests because the place we have been given is a little hard; there are too many rocks, too many hills, too little top soil. If we focus on where we are instead of what we can do with our plot, we will find our efforts significantly diminished.
We are many, many people and yet we are one. What we do today with our thinking, what we do tomorrow with our thoughts, what we do with our actions and our interactions with people determines the course of the universe itself. You are not powerless. You are not without power.
Our prejudices - we all have them - are part of our personality structure. The problem is that our prejudices may lie lurking at the bottom of the subterranean mind where the slowly ooze up and color our thinking without our knowing it.
I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.
And that's why I wrote the book, because our country really needs to understand, if people in this nation understood what our foreign policy is really about, what foreign aid is about, how our corporations work, where our tax money goes, I know we will demand change.
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