Friday, December 3, 2021

Video Debate: "Is ‘Woke Capitalism’ a Threat to Democracy?"

View the debate here: https://youtu.be/uhg7P1DHxVk .

From the video description: The MIT Sloan Adam Smith Society chapter hosted a virtual debate between Roivant founder and chairman Vivek Ramaswamy and Chicago Booth Professor Luigi Zingales on the topic: “Is ‘Woke Capitalism’ a Threat to Democracy?”

I have not yet watched the video, but I have heard both speakers before and expect the debate to be of interest to our readers.  Here's a bit more from the description:

In 1970, Milton Friedman urged business leaders to prioritize shareholder value when making business decisions. Businesses have turned away from this model of late, and are instead actively pursuing social and political goals. Is it good for society when businesses promote political causes and take social stances? Is it good for business? What are the costs when corporate managers focus exclusively on maximizing profit?

https://lawprofessors.typepad.com/business_law/2021/12/video-debate-is-woke-capitalism-a-threat-to-democracy.html

Stefan J. Padfield | Permalink

Comments

“woke capitalism” LOL!

I somehow doubt the debate will “be of interest” to anyone, considering that “woke capitalism” is no more a real thing than the Cardiff Giant.

OK, if you really squint your eyes and muster all your determination to find a meaning in the term, at most it might imply some corporations paying a very modest amount of lip service to the idea that, hey, perhaps racial, ethnic, religious, and LGBTQ+ type minorities, etc. aren’t actually subhuman after all—and making sure to do so in a way that of course doesn’t jeopardize the corporations’ bottom lines. But “a Threat to Democracy”? Mmm, not so much.

Just invoking the nonsensical term “woke capitalism” would be ample proof that a person isn’t serious. And here I assume, given his and Zingales’ respective bios, that Ramaswamy is performing the role of opponent. So that already makes him the unserious one. But there’s more. I suspect that Ramaswamy is quite fine with things like unlimited—and anonymous—corporate campaign contributions, gerrymandering, vote suppression, and of course, the small matter of an insurrection at the Capitol earlier this year. So if Ramaswamy disregards those, you know, actual threats to democracy, then nobody should be bothered giving him the time of day.

Posted by: kotodama | Dec 3, 2021 8:05:06 AM

I find the term "woke capitalism" to be offensive and tried to make that point in an op-ed, "The Corrupting Influence of the Term 'Woke Capitalism.'" Unfortunately, the op-ed never gained any traction. Take a look. https://www.realclearmarkets.com/articles/2021/07/14/the_corrupting_influence_of_the_term_woke_capitalism_785334.html

Posted by: Bernard S. Sharfman | Dec 3, 2021 12:24:02 PM

Awesome post. Really happy to read this post. Thanks for sharing it

Posted by: Johnson Alfred | Dec 28, 2021 1:26:54 AM

Post a comment