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The Corruption of Stakeholder Capitalism

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First published at 15:49 UTC on February 16th, 2024.

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The New Discourses Podcast with James Lindsay, Episode 135

Stakeholder Capitalism is a scam. Though not particularly well-known outside of certain business circles, it is the model associated with Klaus Schwab and the World Economic Forum. Its basi…

The New Discourses Podcast with James Lindsay, Episode 135

Stakeholder Capitalism is a scam. Though not particularly well-known outside of certain business circles, it is the model associated with Klaus Schwab and the World Economic Forum. Its basic form is this: the purpose of the company itself has to change, not to serve customers and generate profit for shareholders but instead to "serve all stakeholders." Its mechanism is also unsurprising: ESG, Environmental, Social, and Governance scoring metrics for corporations. Unsurprisingly, its implementation is shockingly corrupt and filled with Marxist distortions. In this episode of the New Discourses Podcast, host James Lindsay goes through a short September 2020 Harvard Law School Forum on Corporate Governance document (https://corpgov.law.harvard.edu/2020/09/14/the-stakeholder-model-and-esg/) about corporate incentives packages for ESG and the stakeholder model together with and a crucial portion of Klaus Schwab's 2022 book, The Great Narrative for a Better Future (https://amzn.to/3UyCmgX), to make clear just how corrupt and dangerous the ESG agenda and stakeholder capitalism truly are. Join him to see for yourself.

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