High Stakes

BlackRock CEO Larry Fink speaks at the Secretary General’s High-Level meeting on Financing at the United Nations in New York City, September 24, 2018. (Caitlin Ochs/Reuters)
‘Stakeholder capitalism’ is corporatism in disguise.

NRPLUS MEMBER ARTICLE I n a CNBC interview, former Goldman Sachs Asset Management Chairman Jim O’Neill became the latest figure to use COVID-19 as a recruiting sergeant for a preferred cause — in O’Neill’s case, “stakeholder capitalism.”

CNBC:

“People that run really successful businesses have to be thinking about something a bit more than just an outright obsession with maximization of profit and playing their own role in trying to deal with some societal challenges,” he said.

O’Neill, who is currently Chair of Chatham House, said companies could be moving into a new era of “stakeholder capitalism,” where they must act beyond the interests of their shareholders.

O’Neill [also]

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