https://issuesinsights.com/2019/08/22/ce...keholders/
"...No. In fact, it’s a sad sign of the times when a group of people with such great financial responsibility sign a “pledge” that commits them to doing the exact opposite of what they’re supposed to do, in the only economic system that has ever delivered wealth and happiness to hundreds of millions of people.
Let’s start with that term “stakeholders.” Sorry, but it’s a vacuous term, a weasel word that essentially means “anyone we want to please.” It shows even supposedly bottom-line-oriented CEOs are vulnerable to PC gibberish. Shareholders have skin in the game; a diffuse, ever-changing group of ill-defined stakeholders don’t.
The 189-member group of major-company CEOs — among them the top dogs at Amazon, Apple, JPMorgan Chase and Walmart — says it wants to “modernize” American corporations.
“Americans are struggling,” the pledge said. “Too often hard work is not rewarded, and not enough is being done for workers to adjust to the rapid pace of change in the economy.”
That all might be true, but the fact is, individual companies have the power to deal with that right now, without signing a PC “pledge” to do so....
In fact, it’s the law. Any CEO who does not accept his or her fiduciary responsibility is technically a violator. Those CEOs who signed the pledge might not have realized it, but they don’t get to make this decision. The people do. CEOs who impose far-left ideas on their corporations deserve to be sued by their cheated shareholders.
As is often the case, Nobel-winning economist Milton Friedman said it best:
“There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase 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 or fraud.”
Or as Instapundit’s Glenn Reynolds has pithily summarized: “Get Woke, Go Broke.” We hope the CEOs are smart enough to heed that advice."