Commentary: BlackRock CEO Larry Fink’s Woke Capitalism Crusade Runs into Resistance

February 08, 2022

Andy Puzder and Stephen R. Soukup describe BlackRock CEO Larry Fink’s Woke capitalism crusade and retreat as his push for Environmental, Social and Governance (ESG) investment criteria and “stakeholder capitalism” were met with intense resistance from many including shareholder activists, U.S. senators, state treasurers, legislators, governors, as well as the former director of “sustainable investing” for BlackRock itself.

Darwall: Woke Capital Won’t Save the Planet

February 02, 2022

Rupert Darwall writing for RealClearenergy.org, explores how woke capitalism may have reached in pinnacle, referring to a letter by BlackRock CEO’s Larry Fink who states in a recent letter that stakeholder capitalism is not “woke,”  because capitalism is driven by mutually beneficial relationships between businesses and their stakeholders, a shift from 2019 when he wrote his « profit and purpose letter ».

Veldhuis and Clemens: Stakeholder Capitalism and ESG’s Road to Socialism

January 25, 2022

Niels Veldhuis and Jason Clemens writing in the Financial Post argue that the trends of ESG (environment, social, governance) and stakeholder capitalism movements diminish economic freedom and push towards a new brand of socialism.

Bebchuk and Tallarita: The Illusory Promise of Stakeholder Governance

Cornell Law Review

January 19, 2022

Lucian A. Bebchuk and Roberto Tallarita, writing in the Cornell Law Review, address the growing concerns of the effects of stakeholder capitalism on corporations, assessing it as an inadequate approach to addressing stakeholder concerns.

U.S. Regulator Proposes Climate Risk Guidance for Banks

December 22, 2021

The Office of the Comptroller of the Currency (OCC) has proposed draft supervisory guidance for large U.S. banks to integrate climate financial risk assessments into every aspect of their work including from how climate change affects board room governance, to the banks ability to service poorer communities.

France Rebukes U.S. AI Company for Privacy Breaches

December 22, 2021

Clearview AI has been ordered by French data privacy watchdog CNIL to stop collecting and using data from people based in France, an accusation that the U.S. based facial recognition company denies.

Reuters: Documents show Amazon’s Attacks on Americans' Privacy

November 23, 2021

As states throughout the U.S. attempt to give consumers increased control over their collected data, confidential documents reviewed by Reuters reveal that Amazon.com, Inc has collected a huge amount of sensitive personal information on its customers.

Apple Holds Control over States' Digital ID Cards

November 15, 2021

According to CNBC, Apple's digital ID card requires tight control for the governments that use them, requiring not only running the platforms, but also hiring managers to handle Apple's requests.

WallStreetWindow.com: The Problem with “Stakeholder Capitalism”

November 10, 2021

Frank Shostak explores the background and results of Klaus Schwab’s « Stakeholder Capitalism », including current and potential problems stemming from its implementation.

Brown at Consumer Privacy World: FTC Amends GLBA Safeguards Rule

November 09, 2021

The Federal Trade Commission (FTC) amends the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule and imposes new privacy obligations on financial institutions, requiring significant changes to their information security programs.