Among the biggest stories of the day is the wokification of corporate America.
The update? Corporations’ are pulling back from their activism, at least according to a report in The Epoch Times:
Wall Street titans appear to be having an increasingly hard time reconciling the conflicting goals of progressive activism and shareholder returns.
Until recently, many banks, asset managers, and insurers portrayed these goals as complementary, asserting that climate risk is financial risk and that the competence of management can be assessed by its commitment to social justice goals.
Today, however, those narratives are rarely heard.
Kevin Stocklin, “Corporations Are Losing the ESG Battle, Forcing Them to Hide Advocacy,” The Epoch Times (March 08, 2024).
The story behind the story is perhaps even more interesting, for it shows how easy it is to control America’s corporations: control the investment groups that own most of the stocks.
Which reminds us of Peter Drucker’s claim that socialism was coming to America via retirement funds.
Drucker sounded so . . . optimistic . . . about that. Didn’t he?
But what if socialism is bad no matter how you achieve it?