Progressive-Democrats, led by Senator Elizabeth Warren (D, MA) demand absolute acceptance of and fealty to their position and elimination of any other position. The meek meekly surrender to that.
Activists blast the institution as immoral, whether because of capitalism, racism or something else. Leaders of the institution, hoping to calm passions, concede the moral point. But instead of buying political absolution, they undermine their authority and give the left more ammunition to assail them.
That has been pattern at universities, artistic groups and media companies….
Now she, and they, are after private enterprise.
Last year the [Business Roundtable] delighted liberals by ostentatiously revising its mission statement from serving shareholders to include “all stakeholders.” That’s innocuous if all they meant was trying to do right by employees, customers, and the communities in which they operate in the course of also trying to make money for shareholders.
It’s also not good enough. Warren has proposed legislation—and if the Progressive-Democrats get control of the Senate, she’ll succeed in ramming it through—that would eliminate the rights of the business’ owners, those shareholders.
Warren’s legislation would require that 40% of seats on major corporate boards be chosen by employees, which would typically mean union leaders. The companies would have to get approval of 75% of shareholders to make political contributions, which could handicap them in future anti-business campaigns. They could be sued for not pursuing the goals of local nonprofits or Black Lives Matter. Politics would control the purposes of corporate capital.
Her legislation dovetails nicely with Progressive-Democratic Party Presidential candidate Joe Biden’s promise of union jobs—and he promises only union jobs—together with his promise to do away with right-to-work laws.
That’s not all. Warren put an op-ed into Fast Company in which she required that the
Roundtable must fully commit to the principles they set out in the 2019 ‘Statement,’ act on them, and publicly report on their progress in the coming year.
This is the autocratic government favoring only the Party preferred among us—the only stakeholders of note—to which we can look forward if Biden is elected.
Nice business you got there. Be too bad if something was to happen to it.