Business beware, ‘stakeholder’ capitalism is parasitic progressivism
Semantic infiltration is the tactic by which political objectives are smuggled into discourse that is ostensibly, but not actually, politically neutral.
A Legal Test for Evaluating Modern Corporate-Executive Self Dealing
Proponents of stakeholder capitalism and ESG initiatives invariably claim that they are acting for the neutral, objective, bipartisan interests of everyone.
STAKEHOLDER CAPITALISM SERVES THE PERSONAL POLICY PREFERENCES OF CEOS
America's wokest CEOs talk constantly about stakeholder capitalism, and portray themselves as standing up for all stakeholders while advancing a caring sort of capitalism. None of this is true.
The Distorted Market for Woke Capitalism
The founder of modern economics, Adam Smith, was no fan of the merchants of his time. He regarded them as among the most responsible for how “the mercantile system,” as Smith called it, accorded legal privileges to politically connected producers over the interests of consumers.
How our culture and our government gave too much power to Facebook
Capitalism offers an optimal paradigm to organize a virtuous society’s economic affairs. But virtue is a precondition for capitalism, not a product of it, and no modern phenomenon better highlights that distinction than the rise of addictive social-media platforms.
Capitalism, Socialism & ESG
ESG is sweeping the investment world. Its advocates claim that ESG will both deliver superior investor returns and change the world for the better. These claims demand critical scrutiny.
On ‘Capitalism, Socialism and ESG’
For the better part of a century, the Left has been waging a slow, methodical battle for control of the institutions of Western civilization. During most of that time, “business”— and American Big Business, in particular — remained the last redoubt for those who believe in free people, free markets, and the criticality of private property.
Ford, Mellon, Rockefeller Made Their Fortunes Thanks to Capitalism. Now, Their Foundations Seek to Undermine It.
Henry Ford, John D. Rockefeller, and Andrew Mellon flourished because of America’s free enterprise system. Yet, the foundations that bear their names are today pursuing a much different agenda, warns Rick Graber, president and CEO of the Bradley Foundation and chairman of the Philanthropy Roundtable. “These foundations exist with their massive endowments because of these gentlemen that believed in free markets, took risks, and created just some incredible, incredible companies.”
Capitalism, Socialism and ESG
Big claims are being made for ESG (environmental, social, and governance) investment strategies: ESG will reconcile society to capitalism while making investors—and Wall Street—more money. BlackRock, the world’s largest fund manager, is pushing ESG as part of a marketing pitch to millennials, who put “improving society” ahead of “generating profits.” Much of the buy-side pressure for ESG comes from state and municipal pension funds playing politics with taxpayers’ and pensioners’ money, many of which are in poor financial shape.
Blackrock’s CEO Larry Fink’s “Stakeholder Capitalism” Isn’t About Capitalism
Keith Sirios, President and Chief Executive Officer of Capital Management HPP, Inc. and former President and CEO of Checkers Restaurants suggests that “stakeholder capitalism” and Corporate Social Responsibility programs aren’t what they claim to be.