August 20, 2019
The CEOs of Amazon, Apple, Goldman Sachs, Raytheon and nearly 200 other companies want you to know they’re down with woke capitalism.
The organization representing the nation’s most powerful chief executives is rewriting how it views the purpose of a corporation, updating its decades-old endorsement of the theory that shareholders’ interests should come above all else.
The new statement, released Monday by the Business Roundtable, suggests balancing the needs of a company’s various constituencies and comes at a time of widening income inequality, rising expectations from the public for corporate behavior and proposals from Democratic lawmakers that aim to revamp or even restructure American capitalism.
“Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity,” reads the statement from the organization, which is chaired by JPMorgan Chase CEO Jamie Dimon.
The group says its members “share a fundamental commitment to all of our stakeholders,” and commit to doing well by their customers, employees, suppliers and local communities. “Each of our stakeholders is essential,” the group adds. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”
The new statement includes 181 signatures of the 192 current members of the Business Roundtable, which represents many of the biggest companies in the United States. While the statement represents at the very least a symbolic change in the group’s thinking, it was not clear how companies would change their practices in light of the new commitments, nor how any changes in behavior would be assessed or monitored.
Here’s the letter:
This reads to me as our ruling oligarchs laying the groundwork for a coming crackdown and mass deplatforming event where they will go into overdrive policing speech, banning gun sales and targeting dissidents — aka “discredited entities” — to prevent them from engaging in commerce as we’re seeing in China.
— Global Times (@globaltimesnews) August 16, 2019
These companies are not interested in fostering “diversity and inclusion” when it comes to ideologies. They’re interested in forcing prog-globalism down our throats and crushing all dissenters.
This article was posted: Tuesday, August 20, 2019 at 5:31 am