Posted on 01/27/2020 5:00:21 AM PST by karpov
These are difficult days for the elites caricatured as “Davos men.” But one might not know it reading the strident remarks coming out of the World Economic Forum last week. Perhaps the globe-trotters in Switzerland ought to ponder what has run amok with today’s version of “globalism,” and there are lessons from history that may help them.
Salesforce chairman and co-CEO Marc Benioff said on Tuesday that “capitalism as we have known it is dead, and this obsession that we have with maximizing profits for shareholders alone has led to incredible inequality and a planetary emergency.” This is in keeping with the Business Roundtable’s recent advocacy for “stakeholder capitalism,” which aims to make customers, suppliers, vendors, and so on equal with shareholders. Stakeholder capitalism is supposed to be the natural successor to the model of maximizing shareholder value.
The call for corporate advocacy comes as nationalism and populism are emerging across the West, with events such as Brexit and Donald Trump’s 2016 triumph. This dichotomy suggests that citizens of Western democracies face a choice between a globalist economic and political order—of which stakeholder advocacy is a part—and a retreat into mercantilism, nativism and cultural stasis.
This is a false choice. The advent of stakeholder capitalism as a replacement for shareholder value is in many ways a microcosm of the current globalist project, and its flaws illustrate the tension between today’s globalism and nationalism. But it also shows how to resolve them.
Globalism touts the supremacy of supranational bodies and accords—the United Nations, the Paris climate agreement and the like. The officials who enter into these pacts often aren’t accountable to those who are governed by such arrangements. This amounts to a technocratic and anti-democratic rule by elites who think they know better
(Excerpt) Read more at wsj.com ...
It’s called Fascism.
The State decides everything.
“Stakeholder Capitalism”???
In the Manifesto Marx despised them as “bourgeois socialists”. Today he might have called them bourgeois fascists.
Bump
Bookmark
USA is but needs to remain about private enterprise. Individual businesses, not corporations! Real people VS legal fictions (corporations).
Now ask yourself why the Marxists are running an impeachment show.
Time to dump Salesforce stocks and look for other software. Then they will learn how capitalism works!
Salesforce chairman and co-CEO Marc Benioff said on Tuesday that “capitalism as we have known it is dead, and this obsession that we have with maximizing profits for shareholders alone has led to incredible inequality and a planetary emergency.”
IOW, he should be investigated and probably indicted for his failure to uphold his fiduciary responsibilities.
I hear ya...
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