AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Stakeholder Capitalism and ESG
There is a moral distinction between deciding that you don't want to go to the racist barber versus coming out with a bullhorn in front of the barbershop. What's effectively happened is a really small group of agents, I wouldn't even call them market actors,. BlackRock, State Street, Vanguard. These firms are using other people's money to advocate for political and social viewpoints on corporate America's boardrooms. That's a fiduciary breach at the heart of stakeholder capitalism itself.