Woke Capitalism Is a Monopoly Game

Mises.org ^ | 2/10/22 | Michael Rectenwald

[aquila48]

...

Business Insider columnist Josh Barro suggested that woke capitalism provides a form of parapolitical representation for workers and corporate consumers. Given their perceived political dis­enfranchisement, woke capitalism offers them representation in the public sphere, as they see their values reflected in corporate pronouncements.

Others have suggested that corporations have gone woke only to be spared cancellation by Twitter mobs and other activists, that wokeness is a good “branding tool,” or that progressive shareholders also demand corporate activism.

But woke capitalism cannot be sufficiently explained in terms of placating coastal leftists, ingratiating left-liberal legislators, or avoiding the wrath of activists. Rather, as wokeness has escalated and taken hold of corporations and states, it has become a demarcation device, a shibboleth for cartel members to identify and distinguish themselves from their nonwoke competitors, who are to be starved of capital investments. Woke capitalism has become a monopoly game.

Just as nonwoke individuals are cancelled from civic life, so too are nonwoke companies cancelled from the economy, leaving the spoils to the woke. Corporate cancellations are not merely the result of political fallout. They are being institutionalized and carried out through the stock market. The Environmental, Social, and Governance (ESG) Index is a Chinese-style social credit score for rating corporations. Woke planners wield the ESG Index to reward the in-group and to squeeze nonwoke players out of the market. Woke investment drives ownership and control of production away from the noncompliant. The ESG Index serves as an admission ticket for entry into the woke cartels.

[HighSierra5]

The “wokesters “ are fast asleep in a dystopian nightmare.

[traderrob6]

“But woke capitalism cannot be sufficiently explained in terms of placating coastal leftists, ingratiating left-liberal legislators, or avoiding the wrath of activists.”

I’m not sure I agree with that especially the “avoiding the wrath of activists” portion.

Wokeism is the safe route for these spinal d’bags.

[Lurkinanloomin]

It’s fascism.

[janetjanet998]

The non-woke parallel economy is developing and we need to support it as much as possible

[AndyJackson]

Woke capitalism has become a monopoly game.

It's the Bushes' trifecta of globalism, socialism and crony capitalism taken to its logical conclusion. And the only thing standing in the way is a basket of deplorable exremist, racist, and LGBHQZWT-phobic f[tr]uckers

[AndyJackson]

Bushes' trifecta: One ring to rule them all, one ring to find them, One ring to bring them all, and in the darkness bind them

[jacknhoo]

The company I work for is woke, they outright stated, because they’re competing with other woke companies like Amazon, Google, etc, for government contracts. The exact same reason they used for vaccine mandates (they did grant religious exemptions).