The Dangers of ‘Stakeholder Capitalism’

On the floor of the New York Stock Exchange, July 2018. (File photo: Brendan McDermid/Reuters)
In effect, its advocates are insisting that corporate money and power should be conscripted to force through a social and political agenda — without the bother of going through the ballot box.

NRPLUS MEMBER ARTICLE W riting in the Wall Street Journal last week, Andy Puzder took aim at Joe Biden’s embrace of “stakeholder capitalism,” the doctrine now being touted as a replacement for the quaint notion that a company should be run for the benefit of those — the shareholders — who own it.  Stakeholder capitalism is a modish name for what is just another expression of corporatism, an old ideology with a sometimes sinister past that, because of the power it gives to the unelected and the unaccountable, will never fall far out of style. That, in this case, it involves playing around with


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