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I recently flagged up the Tomorrow's Company report Tomorrow's Owners. I've just got hold of the full report, and it is definitely worth a read. It actually poses a lot more questions than it answers, but it covers a lot of ground, and is the first report I've seen to try to grapple with the changing nature of company ownership (as hedge funds and private equity have displaced 'traditional' shareholders). It also makes the case for other forms of ownership - like family firms and employee-owned businesses. If you are interested in this sort of stuff it is worth getting hold of (it's £35).