Woke’ U.S. Companies Relearn An Old Lesson: Profits Before Politics

[Wild74]

Woke’ U.S. Companies Relearn An Old Lesson: Profits Before Politics
I & I ^ | May 27, 2022 | I & I Editorial Board

In recent years, a rash of companies suddenly discovered a new “woke” identity, taking sides with the left in America’s ongoing cultural civil war. Now, after a powerful popular backlash, many of those same companies are retreating from the fight. Smart move.

Companies have apparently discovered that Instapundit’s oft-quoted rhyme, “Get woke, go broke,” isn’t a joke. It’s more like an economic truism.

Americans, it seems, don’t like having their cherished cultural, personal, religious and moral beliefs belittled, diminished and ridiculed by the very corporations they do business with.

The latest company to suffer for its wokeness is State Farm, not exactly known for its cutting-edge social activism. And yet, its recent foray into identity politics through a partnership with a group called The Gender Cool Project alarmed even its own employees with its alienating message to customers.

The “partnership” was intended to donate books on transgenderism and gender fluidity to schools in an effort to “increase representation of LGBTQ+ books and support our communities in having challenging, empowering, and important conversations with children Age 5+.”

But “after the CEO reportedly heard from more than 2,000 independent State Farm agents nationwide (and probably a flood of customers), the company announced that it was ending its partnership with The GenderCool Project,” as RedState reported.

So much for Woke Insurance.

Similar things are happening across the country, as companies get woke to a different reality: Americans largely don’t like companies meddling in politics and social issues, and prefer not to be lectured by woke CEOs about raising their children.

The trend has picked up speed following a relentless stock market sell-off in in recent weeks.

(Excerpt) Read more at issuesinsights.com ...

[DaveTV1]

Any business that tries to choose sides will earn less money than a company that is neutral.  In business you can't choose sides.  

[Wild74]

It’s hard to improve on Nobel-winning economist Milton Friedman’s insight in a now-famous 1970 column in the New York Times Magazine: “There is one and only one social responsibility of business — to use its resources and engage in activities designed to improve its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception and fraud.”

[EnjoyLife]

2 hours ago, Wild74 said:

It’s hard to improve on Nobel-winning economist Milton Friedman’s insight in a now-famous 1970 column in the New York Times Magazine: “There is one and only one social responsibility of business — to use its resources and engage in activities designed to improve its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception and fraud.”

Milton Friedmans economic philosophy is what sold out this country to Red China and turned the American Midwest from the arsenal of democracy into the rust belt. 

[EnjoyLife]

14 hours ago, EnjoyLife said:

Milton Friedmans economic philosophy is what sold out this country to Red China and turned the American Midwest from the arsenal of democracy into the rust belt. 

It was also when conservatives embraced Friedmans economics as gospel that the American middle class began to stagnate and the right wing began to believe that being sociopaths is a good thing. 

[KirtFalcon]

18 minutes ago, EnjoyLife said:

It was also when conservatives embraced Friedmans economics as gospel that the American middle class began to stagnate and the right wing began to believe that being sociopaths is a good thing. 

The turn toward socialism had nothing to do with Friedman's economics  ....

[EnjoyLife]

2 hours ago, KirtFalcon said:

The turn toward socialism had nothing to do with Friedman's economics  ....

I did not say anything about socialism. 

[KirtFalcon]

3 hours ago, EnjoyLife said:

It was also when conservatives embraced Friedmans economics as gospel that the American middle class began to stagnate and the right wing began to believe that being sociopaths is a good thing. 

Your statement makes no sense .... totally out in left field  ....

[EnjoyLife]

1 hour ago, KirtFalcon said:

Your statement makes no sense .... totally out in left field  ....

My statement makes absolute sense. Friedmans philosophy was that the only responsibility that businesses have is to maximize profits...period...with absolutely no regard for how their actions impact society. No regard for workers. No regard for communities. No regard for this country. Unfortunately, the gop and American conservatives have whole heartedly adopted Friedmans sociopathic ideology. 

[trashyhound]

37 minutes ago, EnjoyLife said:

My statement makes absolute sense. Friedmans philosophy was that the only responsibility that businesses have is to maximize profits...period...with absolutely no regard for how their actions impact society. No regard for workers. No regard for communities. No regard for this country. Unfortunately, the gop and American conservatives have whole heartedly adopted Friedmans sociopathic ideology. 

So in your opinion businesses shouldn't try to maximize profit? 

[EnjoyLife]

2 minutes ago, trashyhound said:

So in your opinion businesses shouldn't try to maximize profit? 

Businesses must be profitable to remain viable...but they also need to consider how their actions to "maximize profits" are going to effect their stakeholders (workers, communities, the nation).

[KirtFalcon]

21 minutes ago, EnjoyLife said:

My statement makes absolute sense. Friedmans philosophy was that the only responsibility that businesses have is to maximize profits...period...with absolutely no regard for how their actions impact society. No regard for workers. No regard for communities. No regard for this country. 

Exactly the opposite ... free market capitalism impacts society far more positively than any alternative .....

[trashyhound]

50 minutes ago, EnjoyLife said:

Businesses must be profitable to remain viable...but they also need to consider how their actions to "maximize profits" are going to effect their stakeholders (workers, communities, the nation).

I agree,  but they don't need government oversight to do that.  They need a true free market,  which Friedman wanted,  that polices itself.