A Tyranny for the Good of Its Victims: The Ugly Truth about Stakeholder Capitalism - Andrew F. Puzder

Former CKE group CEO Andrew F. Puzder exposes how the secretive consolidation of financial power under the guise of ESG represents a new collectivist threat to the free market. A Tyranny for the Good of its Victims exposes how massive financial firms are employing so-called Stakeholder Capitalism to advance a collectivist ESG agenda shrouded in a thin veneer of post-modern morality and collective responsibility. By investing other peoples' money, asset manager mega-giants BlackRock, State Street and Vanguard have accumulated unprecedented levels of stock ownership in virtually every major US company. Because they vote the shares they hold for others, this massive share ownership empowers them to force their environmental, social and governance or ESG agenda on the American corporate sector and, by extension, on all of us. Although their traditional duty is to maximize returns for their investor/clients, these financial elites rely on so-called Stakeholder Capitalism to expand their duties and impose their preferred ESG goals under the guise of benefitting an amorphous group of non-investors. This elitist dominated economic system is nothing more than Socialism in sheep's clothing and ESG defines its champagne socialist agenda - an agenda only the rich could afford that would devastate the poor and impoverish working- and middle-classes globally. In the face of rising opposition to this 21st century collectivist threat, these financial elites are now endeavoring to change the names they use to conceal their intent, abandoning the acronym ESG but not its goals as they endeavor to transform our consumer driven free market economy to one that is subject to their elitist demands, overriding the will of the people who they deem incapable of governing themselves. Former CKE group CEO Andrew F. Puzder exposes how the secretive consolidation of financial power under the guise of ESG represents a new collectivist threat to the free market. Over the last thirty-five years, asset manager mega-giants BlackRock, State Street, and Vanguard have accumulated unprecedented levels of stock ownership in virtually every major US company. Voting the shares they hold for clients allows these companies to force their own environmental, social, and governance or ESG agenda on the American corporate sector and, by extension, on all of us. An asset manager's traditional duty is to maximize returns for its investors, but these financial elites expand