ESG: From Woke to Broke
According to the esthetics of our liberal ruling class, profits are icky. Businesses are supposed to pursue moonbattery instead — or as the suits call leftist ideology, ESG (environmental/social/governance).
The purpose of any company is to make a profit. If it pursues anything else as a primary objective, it has been subverted. Profit is what makes businesses work. As Pepperdine University’s Andy Puzder observes, this is a good thing:
“The genius of capitalism is that it requires businesses to do good things for society to make a profit. … In a free enterprise system, you can’t make money without providing a social good.”
In contrast, little if any good comes from leftist politics, except for the privileged few who end up in power.
Why then don’t businesses stick to business instead of wallowing in wokeness? As with all things left-wing, it comes down to phony posturing and control.
Do not expect to avoid the consequences of ESG idiocy. If you have a 401K, it is costing you money — potentially, a lot of money.
On tips from KirklesWorth and Dragon’s Lair.
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[…] is a euphemism for moonbattery. As noted recently, pursuing ESG rather than profits wastes investors’ money. With the government involved, it […]