Murat Binay

Thirty years ago, in his book, The Pension Fund Revolution, Peter Drucker wrote about what the ownership structure of corporations would look like in the future. Corporations are now owned mostly by pension funds and other institutional investors, just as he predicted. Institutional investors being my research area, I’m still amazed by his remarkable vision. Unfortunately, I did not have a chance to meet him personally. I regret that because it is clear that he was a person who had deep impact on the thoughts and lives of those he came in contact with. I’d like to share an interesting experience I had recently. In a social gathering, a doctoral student introduced himself and asked me about Peter Drucker. After learning that he had passed away recently, the student told me he’s a sergeant at the Turkish Police Forces and studied Peter’s teachings during his education. Obviously, Peter’s ideas transcend borders and cultures, impacting lives in countries thousands of miles away from Claremont. For me, this is Peter’s legacy. In this age of globalization, where each of us is a world citizen, Peter has succeeded in unifying people under a common set of beliefs and ideas. In this regard, Peter’s legacy and the transcontinental nature of his ideas could provide us with a guiding light in our future endeavors.