Asset management giants like Blackrock have accrued wealth larger than some nations by making passive investment cheap. But, writes A.G., their size and influence encourages anti-competitive behaviour and prioritises short-term profits over broader economic well-being. This has led to wage stagnation and increased wealth concentration among the richest, risking an ever-decreasing pool of potential investors. We need to discover alternative approaches like a democratically controlled public asset manager which could achieve more equitable and sustainable prosperity.  Our lives have become increasingly intertwined with global financial markets. If you have a retirement plan or a personal investment account, chances are your savings are being managed by asset management companies. By managing investments on our behalf, asset management firms not only command the flow of global capital, but they also exert control over the companies where we work, o…

Read the full article which is published on IAI TV (external link)