Hysteria, groupthink and a fair amount of hypocrisy are the key ingredients in a ruinous cocktail that has managed to intoxicate some formerly profit-focused boardrooms. One day, it’s the Adena Friedman-led Nasdaq stock market demanding that its US-listed companies have fully diverse boards even as it ignores a Chinese company’s treatment of the oppressed Uighur ethnic minority. The next, it’s Larry Fink of BlackRock pushing President Biden’s green-energy agenda while hawking high-priced funds that invest in such boondoggles. The latest episode of this farce involves Georgia’s new voter law, which we’re supposed to believe is the second coming of Jim...