Is the Free Market Corroding Moral Character?

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Uploaded by on May 20, 2009

John C. Bogle, founder and former CEO of the Vanguard Group and president of the Bogle Financial Markets Research Center, assesses governance practices at public corporations and how they affect the underlying value of a firms equity.

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  • Allow me to take this time to add another quote from Adam Smith, to complement this man's effort at being objective. Adam Smith: Our merchants and master-manufacureres complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They compain only of those of other people.

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