Monday, February 21, 2022

Meet Your "New Emperors" Intent on Re-Engineering the World in Their Solipsistic Image


From the Wall Street Journal print edition February 17, 2022 B5 titled, "Berkshire Executive Says Index Funds Wield Too Much Power":

"Mr Munger., the billionaire vice chairman of Berkshire Hathway Inc. and Warren Buffett's business partner, said the rise of index funds like those run by Mr. Fink's BlackRock has resulted in an 'enormous transfer' of the power to sway corporate decision-making. That shift will 'change the world,' he daid, ant for the better.

'We have a new bunch of emperers and they're the people who vote the shares in the index funds,'...

BlackRock reported assets under management of more than $10 trillion in the fourth quarter of 2021"


So much for democracy and the grassroots power of self-determined citizens. 

However, our new emperors are deluded in their narcissistic self-aggrandizement and their totalitarian visions will fail. Unfortunately our civilization may fail with them.



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