Fergus Hodgson has an excellent opinion piece at The Epoch Times talking about ESG. It is the latest cancer cutting the heartbeat out of corporations and is the woke and environmental crowDs attempt to fleece businesses out of money to support their causes. <https://www.theepochtimes.com/esg-investing-is-a-false-god_3667128.html?utm_source=share-btn-copylink&st=N0Bm-R3ga9uDdpe8yCjLz8VwTg3FUNAGvXvwJCp93SQwMpA-MWKfTMEeTgk4929OX5R2He4pM6euE6QM92OqN4ULEwYY2-nuL-E>
Fergus correctly points out that this is simply the latest incarnation of the attacks on what has been knows as the Friedman Doctrine https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html. The following is perhaps the heart of the battle between freedom and socialism:
“Friedman went against the Zeitgeist and defended the ethical value of profit as a firm’s objective. Further, he saw through the façade now referred to as ESG: “Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society. … The doctrine of ‘social responsibility’ involves the acceptance of the socialist view that political mechanisms, not market mechanisms, are the appropriate way to determine the allocation of scarce resources.”
Read the whole thing.
