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John Coates on *The Problem of Twelve: When a Few Financial Institutions Control Everything*

Macro Musings with David Beckworth

Release Date: 08/28/2023

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Macro Musings with David Beckworth

Check out David's Substack: for a special 500th episode post! George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chicago Federal Reserve Bank. George returns to the show to discuss the current fiscal status of the US, how the Big Beautiful Bill will impact the fiscal outlook going forward, the history of running deficits in the US, and much more.  Check out the  for this week’s episode, now with links. Recorded on June 24th, 2025 Subscribe to David's Substack:  Follow David Beckworth on X:  Follow George on X:...

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

Luis Garicano is a former member of the European Parliament and a professor at the London School of Economics. In Luis’s first appearance on the show he discusses his new book, Crisis Cycle: Challenges, Evolution, and the future of the Euro, the ever-changing landscape of digital money, his suggested reforms to the Euro, and much more. Check out the  for this week’s episode, now with links. Recorded on June 18th, 2025 Subscribe to David's Substack:  Follow David Beckworth on X:  Follow Luis on X: Follow the show on X:  Check out our Macro Musings   to...

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

Sign up for ! Matthew Pines is the executive director of the Bitcoin Policy institute. Matthew returns to the show to discuss the future of Bitcoin as a strategic reserve, US stablecoin regulation, geopolitics under Trump, monetary policy at the Fed, and much more. Check out the  for this week’s episode, now with links. Recorded on May 16th, 2025 Subscribe to David's Substack:  Follow David Beckworth on X:  Follow Matthew Pines on X: Follow the show on X:  Check out our Macro Musings   to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro...

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

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Macro Musings with David Beckworth

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More Episodes

John Coates is a professor of law and economics and the deputy dean of the Harvard Law School. John is also the author of a new book titled, *The Problem of Twelve: When a Few Financial Institutions Control Everything,* and he joins Macro Musings to talk about it. David and John also discuss the basics and beginnings of index funds, how they may undermine capitalism, the issues with private equity, and a lot more.

 

Transcript for this week’s episode.

 

John’s Harvard Law School profile

John’s publications archive

 

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Related Links:

 

*The Problem of Twelve: When a Few Financial Institutions Control Everything* by John Coates

 

*House Republicans Probe BlackRock, Vanguard on Their ESG Policies* by Steven Dennis

 

*BlackRock Offers a Vote to Retail Investors in its Biggest ETF* by Brooke Masters