A Quote by Eugene Scalia
ESG investing often marches under the same banner as 'stakeholder capitalism,' which maintains that corporations owe obligations to a range of constituencies, not only their shareholders.
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We've now become conscious of the uncalculated social, economic, and environmental costs of that kind of "unconscious" capitalism. And many are beginning to practice a form of "conscious capitalism," which involves integrity and higher standards, and in which companies are responsible not just to shareholders, but also to employees, consumers, suppliers, and communities. Some call it "stakeholder capitalism."
Anti-capitalism is nothing new in Hollywood. From 'Wall-E' to 'Avatar,' corporations are routinely depicted as evil. The contradiction of corporate-funded films denouncing corporations is an irony capitalism cannot just absorb, but thrive on. Yet this anti-capitalism is only allowed within limits.
Many investors understandably want to do good while also doing well. But the standards for ESG investing are often unclear and sometimes contradictory.
I often say that shareholders should feel very responsible for how responsive corporations are to the public trust.
Why not stakeholder action? There's no economic principal that says that management should be responsive to shareholders, in fact you can read in texts of business economics that they could just as well have a system in which the management is responsible to stakeholders.
Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves as stakeholders in the well being of society as well.
With music strong I come, with my cornets and my drums, I play not marches for accepted victors only, I play marches for conquer'd and slain persons. Have you heard that it was good to gain the day?
I also say it is good to fall, battles are lost in the same spirit in which they are won. I beat and pound for the dead, I blow through my embouchures my loudest and gayest for them.
Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice. When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism - with a separation of economics, in the same way and for the same reasons as a separation of state and church.
ESG investing poses particular concerns under the Employee Retirement Income Security Act, or Erisa, the federal law governing private retirement plans.
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
If power lies more and more in the hands of corporations rather than governments, the most effective way to be political is not to cast one's vote at the ballot box, but to do so at the supermarket or at a shareholders' meeting. When provoked, corporations respond.
We have to fundamentally rethink our trade policy and make it work not for the CEOs of large corporations, but for working people. So, if Trump wants to develop a rational trade policy which demands corporations start investing in this country, rather than China, that's something that we can work on.
By now, the corporations that dominate our media, like alcoholic fat cats, treat this situation as theirs by right... Their concept of a diversity of views is the full range of politics and social values from center to far right. The American audience, having been exposed to a narrowing range of ideas over the decades, often assumes that what they see and hear in the major media is all there is. It is no way to maintain a lively marketplace of ideas, which is to say it is no way to maintain a democracy.
The task of the political philosopher can only be to influence public opinion, not to organize people for action. He will do so effectively only if he is not concerned with what is now politically possible but consistently defends the "general principles which are always the same." In this sense I doubt whether there can be such a thing as a conservative political philosophy. Conservatism may often be a useful practical maxim, but it does not give us any guiding principles which can influence long-range developments.
Oh, that God would raise up missionaries. I don't wish the same things your parents want for you. They want for you security and insurance and nice homes. They want for you cars and respect. I want for you the same thing I want for my son, that one day he takes a banner, the banner of Jesus Christ, and he places it on a hill where no one has ever placed a banner before, and he cries out, 'Jesus Christ is Lord,' even if it costs my son his life.
It's time for us to review the circumstances under which corporations gain rights superior to that of individuals in our society. It's time for us to look at the practices of corporations and holding them accountable for violations of law which often go unnoticed because there is very little regulation.
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