A Quote by John C. Bogle
If the job of capitalism is to create wealth for those who put up the capital, no fund group comes close to Vanguard's success in serving its owners. So we're probably as far away from communism as is realistically possible.
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My favourite holdings are Vanguard's Wellington Fund, a balanced mutual fund which is a legacy investment from my first career at Wellington Management Co., and the Vanguard 500 Index Fund.
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
Prior to capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man.
When capital owners are few, the private-property conduits of necessity create vast savings reservoirs for those few. If there were many owners, the same conduits would broadly irrigate the economy with purchasing power.
I think the thing about capitalism is it's an evil necessity, capitalism. Communism has been tried and failed, and socialism, that doesn't work very well. Capitalism works, but the problem about capitalism is it does mean that a few individuals become very wealthy. Therefore, I think those individuals have enormous responsibility to redistribute that wealth either by creating new businesses or creating new jobs and making sure that money just doesn't lie in a bank account for future generations.
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.
With Anglo-American capitalism increasingly under attack, those who believe in the power of free markets and enterprise to create wealth and social progress must stand up and be counted and champion our way of life.
Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.
Sometimes, when the material is really good, you put expectations on yourself to make it the best possible show. You're not just serving up the regular hash and doing your job and going home.
The communism of combined wealth and capital, the outgrown of overweening cupidity and selfishness which assiduously undermines the justice and integrity of free institutions, is not less dangerous than the communism of oppressed poverty and toil which, exasperated by injustice and discontent, attacks with wide disorder the citadel of misrule.
The very essence of capitalism is under threat as business is now seen as a personal wealth accumulator. We have to bring this world back to sanity and put the greater good ahead of self-interest. We need to fight very hard to create an environment out there that is more long term focussed and move away from short termism.
Thanks to a deal finalized in 2008, Chicago's parking meters will be operated for the next 75 years by a group of investors put together by Morgan Stanley, including the sovereign wealth fund of Abu Dhabi.
Thanks to a deal finalized in 2008, Chicago’s parking meters will be operated for the next 75 years by a group of investors put together by Morgan Stanley, including the sovereign wealth fund of Abu Dhabi.
A gold standard is the ideal monetary system for those who create wealth through ingenuity, entrepreneurship, and hard work. Gold standards are disfavored by those who do not create wealth but instead seek to extract wealth from others through inflation, inside information, and market manipulation.
It's important to me that I don't spend too much time away from the family. I try to pick jobs that will keep me as close to home as possible or, if I have to go far away, for as little time as possible.
America's wealth comes from the efforts of people striving for success. Take away their incentive with badmouthing success and you take away the wealth that helps us take care of the needy.
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