The Woke Corporation is Dead
Stakeholder Theory is over. Throw it in a woodchipper.
Woke capitalism refers to a form of capitalism in which businesses take into consideration social and political issues and pretend to work to address them. It is characterized by a focus on faking a positive impact on society and the environment and spending far more money telling everyone about it.
Woke capitalism involves businesses taking a stance on Environmental Social Governance (ESG) such as social and political issues and making decisions that prioritize social and environmental responsibility, diversity, and equality. This might include faking a commitment to reduce their carbon footprint, promoting diversity and inclusion in their hiring practices and operations, but mostly in advocating for useless political and social issues.
The concept of woke capitalism has become more prevalent in recent years. As some consumers have become more socially conscious, businesses are looking to manipulate them into spending more money. In reality, the wokest in the country tend to have the least money because they have some useless humanities degree that does not help them get a job.
While some might ignorantly argue that woke capitalism is a positive development, the reality is it leads to zero socially responsible business practices and contributes to pushing more jobs overseas. Nothing creates a more sustainable and equitable society than woke Marxism, am I right? That’s sarcasm, in case you couldn’t tell. Most argue that it is a superficial form of corporate social responsibility and that businesses are primarily motivated by reputation and image, rather than a genuine commitment to social and environmental causes.
Woke capitalism, or Stakeholder Capitalism, involves businesses taking a stance on social and political issues and masquerading as an organization that prioritizes social and environmental responsibility, diversity, and equality. This is destined to be a failure. The problem is when corporations don’t follow through people on the Left assume the solution is to somehow make them care more. But, people have a limited capacity for empathy. It suffers from scarcity, just like everything else. That is economics. The further left you go on the political spectrum the worse they are in terms of “orderliness’ - or the ability to organize and function rationally.
Here is a list of the main criticisms of "woke capitalism":
Insincerity: Some critics argue that woke capitalism is a form of marketing and public relations, rather than a genuine commitment to social and political issues. They argue that businesses are only adopting socially responsible stances to appeal to consumers and improve their reputation, rather than because they truly believe in these causes.
Tokenism (Token Minority Mascots): Some critics argue that woke capitalism is focused on symbolic gestures and superficial changes, rather than making real and meaningful changes. For example, they may criticize a company for making a public statement of support for a social cause, but not taking concrete actions to address the issue.
Lack of Accountability: Critics argue that businesses are not held accountable for their promises and commitments to social and environmental responsibility. They argue that there is a lack of transparency and oversight to ensure that businesses are actually following through on their commitments. (But would we want them to? ESG and DEI are total failures)
Inequality: Critics argue that woke capitalism focuses too much on inequality and not on individual liberty and freedom.
Limited Impact: Some critics argue that woke capitalism is limited in its ability to address social and environmental issues, as businesses are primarily focused on maximizing profits and may not have the resources or expertise to address complex social and environmental challenges.
Overall, these criticisms highlight the challenges and limitations of woke capitalism as a means of promoting social and environmental responsibility in the business world.
I know times are tough. High inflation, gas prices, and rent or mortgages mean it’s not always so easy to pay bills. However, I appreciate anyone willing to become a paid subscriber. Some of my content will be paid from here on out. With 100ish or more paid subscribers I will be able to spend more time writing the articles that people really want, like Leave Children Alone, Bud Light is Dead, and The Government Hates It When You Give Things Away for Free.
Keep reading with a 7-day free trial
Subscribe to Unskool's Newsletter to keep reading this post and get 7 days of free access to the full post archives.