Stakeholder Capitalism Is Fascistic
The model of so-called “stakeholder capitalism,” a contradiction in terms, is fast replacing the model of shareholder capitalism (a redundancy). The stakeholder model entails scores of pressure groups (including politicians and regulators) dictating what corporations must do, especially if the doing is less rational, less profitable, and averse to shareholders’ goals. A related designation, “ESG,” is a budding American version of China’s Social Credit System. Whereas capitalism entails both private ownership and control of the means of production, fascism entails private ownership but public control; the latter is the essence of stakeholder-ism. Register for upcoming Live sessions of Morals & Markets via Zoom HERE: https://atlassociety-org.zoom.us/meeting/register/tZcod-6grzwuEt1f5ZGeL0AjrLVqENi7zwMB
Morals & Markets with Dr. Richard Salsman
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Show Notes
The model of so-called “stakeholder capitalism,” a contradiction in terms, is fast replacing the model of shareholder capitalism (a redundancy). The stakeholder model entails scores of pressure groups (including politicians and regulators) dictating what corporations must do, especially if the doing is less rational, less profitable, and averse to shareholders’ goals. A related designation, “ESG,” is a budding American version of China’s Social Credit System. Whereas capitalism entails both private ownership and control of the means of production, fascism entails private ownership but public control; the latter is the essence of stakeholder-ism.
Register for upcoming Live sessions of Morals & Markets via Zoom HERE: https://atlassociety-org.zoom.us/meeting/register/tZcod-6grzwuEt1f5ZGeL0AjrLVqENi7zwMB