Profits are Already Compassionate
Amid the recent uptick in calls for a new socialist revolution, you may have also heard terms such as ‘compassionate capitalism’ or ‘stakeholder capitalism” been thrown around to describe the next direction our economy needs to take alongside the Great Reset Agenda.
According to CEOs of the Business Roundtable, rather than pursuing profit, corporations are now to focus on “a commitment to all of [their] stakeholders.” By stakeholders, they are referring to their customers, employees, suppliers, communities, and shareholders.
The assumption with this statement is that pursuing profit only serves the shareholders. But the truth is, this is not the case at all. Pursuing profit as opposed to pursuing this new spin on social justice serves each of these groups while also promoting efficiency and accountability.
But maybe this focus on social justice instead of profit is all a scam for how the Great Reset Agenda will be implemented.
Focusing on Profit
Losing focus on profit will result in negative consequences for all stakeholders and squander the compassion free-market capitalism already provides.
Profits are a result of businesses increasing revenues and reducing expenses. By doing so, they create value for customers. This promotes efficiency, which will allow it to expand production, increase wages, purchase more raw material, and share profits with shareholders and charitable giving.
A focus on profit is a clear and distinct goal. If a business loses money, not only do shareholders not earn a return, but the entire organizational pyramid is at risk of losing income or their jobs. This holds executives accountable for the performance of the business.
Well-performing businesses also have more available funds to donate to charitable causes or to pay employees who will donate money themselves. In 2020, corporations experienced a decline in profits while individuals saw an increase in income. This led to a decline in charitable donations from corporations but an increase in individual donations.
Had businesses been allowed to operate in 2020, the number of donations from corporations would probably have increased alongside individuals.
There are many examples of successful business people who have donated much of their profit to charity throughout history. Steel mogul Andrew Carnegie famously built over 3,000 libraries across the country and gave up most of his fortune to charity by the time he passed away.
More recently, the Bill and Melinda Gates Foundation is the largest charitable foundation in the world and has only been made possible through the profit-seeking enterprises Gates has been involved with.
Simply adding the words “compassionate” or “stakeholder” in front of Capitalism does not mean the results will live up to the rhetoric. Profit-seeking in a free-market capitalist system is already compassionate and if you expand the focus beyond profit into social justice issues, all stakeholders will suffer.
Focusing on Social Justice
Adding social justice goals to a business that has nothing to do with seeking profit is a free pass for executives to avoid accountability.
CEO pay is already at exorbitant levels compared to the average worker and this disparity would only grow larger if decision-makers do not have to focus on running a profitable operation. They can push off blame on social goals.
Not only would executives benefit at the expense of other employees, but suppliers would suffer from a decrease in business and communities would suffer from a decrease in charitable giving.
There would also be a lack of accountability when it comes to the utilization of scarce resources. The world contains a finite amount of raw material to produce goods and services and if businesses are not pursuing profit, our economy would see wasteful utilization of our resources to deliver diminishing benefits to customers.
If these issues were to grow out of control, the economy and society would see a decline in the standard of living and an increase in government intervention. But maybe that is part of the plan.
Implementing the Great Reset
With a lack of accountability for executives and resource utilization, why would shareholders agree to pursue social justice instead of profit?
First, some individuals might prefer the optics of supporting social justice versus profit because they do not realize profit-seeking is compassionate. Others might feel they will personally benefit from a lack of accountability if it means they will receive more in their own pocket.
More than likely, this shift in focus is part of a larger plot to implement the Great Reset.
In 2020, we saw a trial run of the government stepping in to replace income for businesses and individuals who were hurt by the lockdowns. If businesses continue to lose money because they are not focused on profit, the government will have to step in to replace the lost profit and income.
If businesses focus on social justice instead of profit, it will lead to larger government dependencies, market distortions, and an increase in the role of government bureaucrats in our lives as we move towards the Great Reset goal of owning nothing.
As rebel capitalists, we must reject these advances to protect our personal freedoms.
I wonder If Wolff understands he is talking about Free Market Capitalism.
What he is actually referring to is the difference in structure of enterprise.
Wolff is misleading to suggest that the janitor makes the same income as those who sit on the ”Board” and everyone who works in between.
Bottom line,Free Market Capitalism is the answer.
To say “I want to be in business ” is the easy part.
To conclude,I wonder if this MARXIST sees the irony that the examples he gave started with support from The Church.
This an a dollar will get you a cup of coffee
Here is the key, core, fundamental question that NOBODY ever asks. And that is WHO THE HELL ARE YOU TO DECIDE FOR EVERYONE ELSE IN THE UNIVERSE OR ON PLANET EARTH (or any sub-region) HOW THEY MUST LIVE — UNDER THREAT OF HARM, ABUSE, ENSLAVEMENT, DESTRUCTION ????? The answer is the same no matter what kind of organization is imposed on EVERYONE. To be vastly more kind than we should be, the answer is “go find people who voluntarily agree to join your scheme/organization and leave everyone else alone”. Otherwise you are a tyrant, a human predator, a vile, disgusting,… Read more »