The rise of fiduciary capitalism provides the best synopsis to date of how fiduciary capitalism developed but less of a guide concerning the difficult subject of how institutional investors can make corporate america more democratic than its title might imply. In this way they have the potential to make the firms in which they own stock more responsive to the needs of the americans to whom they are responsible and thereby make those firms more democratic the rise of fiduciary capitalism investigates the nature of property and ownership in the modern corporate setting the effects of the decline of . The rise of fiduciary capitalism how institutional investors can make corporate america more democratic james p hawley andrew t williams university of pennsylvania press sep 8 2000 business economics 232 pages. The rise of fiduciary capitalism chronicles the rise of fiduciary institutions primarily public and private pension funds which now own almost 50 percent of the equity of american corporations in turn approximately 50 percent of americans either own stock individually or more typically have an ownership or retirement interest in these . The article reviews the book the rise of fiduciary capitalism how institutional investors can make corporate america more democratic by james p hawley and andrew t williams the potential economic problems that ensue from the separation of ownership and control of the modern corporation first identified and described by berle and
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