In this episode, we explore the growing dominance of passive index funds in the U.S. economy, focusing on the "Big Three" firms—BlackRock, Vanguard, and State Street. These investment giants now control a significant portion of corporate America, raising questions about their concentrated ownership and voting power. How do their voting patterns and private engagements shape corporate governance? Could this unprecedented influence rival the historical dominance of figures like J.P. Morgan? Join us as we unpack the implications of this shift from active to passive investment strategies, examining the potential risks to market competition, stability, and fair practices.

https://www.cambridge.org/core/journals/business-and-politics/article/hidden-power-of-the-big-three-passive-index-funds-reconcentration-of-corporate-ownership-and-new-financial-risk/30AD689509AAD62F5B677E916C28C4B6