The Corner

McKinsey: Corporate Social Responsibility, the Putin Way

Russian President Vladimir Putin at his annual end-of-year news conference at the Novo-Ogaryovo state residence outside Moscow, Russia, December 17, 2020. (Sputnik/Mikhail Klimentyev/Kremlin via Reuters)

McKinsey & Company (“our commitment to making a difference in society is embedded in everything we do”) is one of those firms that like to emphasize how much they support “stakeholder capitalism”:

Business leaders should embrace the apparent contradiction—of low trust and high expectations—and make the choice to demonstrate that they see their mission as serving not only shareholders but also customers, suppliers, workers, and communities. The common term for this is “stakeholder capitalism” and we think its time has come.

Many CEOs say they agree—at least theoretically. There are certainly examples of businesses just talking the talk and not following through.

Well, since


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