It incentivizes high-noise, low-cost signaling rather than actual cultural changes.
by Veronique de Rugy
Reason.com
Many people on the right fear “woke capitalism” and the idea that corporate executives will bend to pressure to advance a vision of the world that replaces their values with progressive ones. To those who are worried, I say, be grateful for the profit motive. To the progressives pushing for such practices, I say, be careful what you wish for.
Regular free-market capitalism has no conflict with companies spending their own money in pursuit of whatever goals they choose. Milton Friedman himself wouldn’t raise an eyebrow over a devoted LTBGQ baker who bakes cakes only for same-sex weddings or a company that only hires workers from underrepresented minorities. But woke capitalism gets more controversial when the likes of Delta Air Lines, JPMorgan Chase, and Apple use inflammatory and questionable talking points against Georgia’s voting-reform legislation, or when Major League Baseball pulls its All-Star Game from that state in protest.