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 |  Subject: Anarcho-Capitalist NEWS: Stakeholder capitalism is insidious leftist garbage  Thu Jan 30, 2020 1:36 am | |
| Stakeholder capitalism arrives at Davos
The 2020 annual meeting of the World Economic Forum opens this week with the theme of “Stakeholders for a Cohesive and Sustainable World.” More than 3,000 global leaders, including 53 heads of state, will convene in the resort town of Davos on the Swiss Alpine to deliberate on pathways to “stakeholder capitalism.”
The Forum’s theme beacons an emerging shift away from the paradigm of “shareholder capitalism” that has guided the world economy since the 1970s. Shareholder capitalism regards the purpose of the firm to be generating profit to its shareholders. Its core principle was aptly surmised by Nobel Laureate economist Milton Friedman as “the business of business is business.” This narrow focus on short-term profit-making is now blamed for everything that bedevils our societies, from the financial crisis to rising inequalities, and from the collapse of societal trust to populist politics and climate change.
More horseshit here: https://www.brookings.edu/blog/future-development/2020/01/21/stakeholder-capitalism-arrives-at-davos/
   
Last edited by CovOps on Thu Jan 30, 2020 1:54 am; edited 1 time in total |
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CovOps
Location : Ether-Sphere
Job/hobbies : Irrationality Exterminator
Humor : Über Serious
| | Subject: Re: Anarcho-Capitalist NEWS: Stakeholder capitalism is insidious leftist garbage Thu Jan 30, 2020 1:53 am | |
| The Davos Set's Most Dangerous Delusion
... The latest public embrace of “stakeholder capitalism” by America’s corporate elite is more of a PR stunt than anything else, and the co-opting of “progressive values” by Wall Street elites and corporate executives is little more than a desperate attempt to placate the growing anger and opposition to capitalism and the billionaire class (not just in the United States, but internationally). This cynical strategy was on full display when the CEO of Goldman Sachs, David Solomon, issued a statement from his Davos resort Thursday stating that the Wall Street firm—the biggest underwriter of initial public offerings in America—will no longer take public any companies with all-white and all-male boards of directors. “Starting on July 1st in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” he declared.
There is perhaps no better example than the above of what the great political theorist Nancy Fraser has termed “progressive neoliberalism”—which she defines as a strategic alliance between such emancipatory social movements as feminism, anti-racism and LGBTQ rights—with neoliberal forces that use “the charisma of their progressive allies to spread a veneer of emancipation over their own regressive project of massive upward redistribution.” The aim of progressive neoliberalism, Fraser remarks, is not to “abolish social hierarchy but to ‘diversify’ it, ‘empowering’ ‘talented’ women, people of color, and sexual minorities to rise to the top.”
An inherently class-specific ideal, this is designed to ensure that the so-called “deserving” individuals from underrepresented groups can attain “positions and pay on a par with straight White men of their own class.” This model of meritocratic neoliberalism is the opposite of radical, as it ultimately helps sustain the unjust system that keeps the great majority of people from all groups exploited and powerless.
In the end, individual capitalists may genuinely care about the environment, global poverty and inequality, or any of the other noble causes discussed at Davos, but they operate within an impersonal and amoral system that does not care about their personal conscience. (Plus, to succeed in this type of environment, the less empathy one has the better; a recent study found that as many as one in five business leaders may have psychopathic tendencies, compared with around 1% to 2% in the general population).
Milton Friedman was at least honest about the ruthless and cutthroat nature of capitalism, unlike Davos elites and a growing number of corporate leaders who promote the contradictory idea of a kind of compassionate capitalism. In truth, the only way to meet the enormous challenges and threats we face today is to look critically at the very system that engendered these problems in the first place. Not surprisingly, those who benefit most from this system are not prepared to do this.
https://www.truthdig.com/articles/the-davos-sets-most-dangerous-delusion/
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Humor : Über Serious
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