Positive capitalism is doable

[razz]

Thought that you might enjoy a fresh ethical view of what is possible in a capitalistic society for both small and big business. I know that I found it refreshing.
https://www.csmonitor.com/World/2020/0323/A-new-ethos-for-capitalism-Do-the-right-thing?j=287314&sfmc_sub=13805523&l=1215_HTML&u=10358674&mid=10979696&jb=14&cmpid=ema:Weekender:20200328&src=newsletter

For Unilever, all this paid off. The company yielded 290% shareholder return over Mr. Polman’s decade at the helm, he says proudly. “The development agenda is a business agenda,” he insists. “It doesn’t have to be a tradeoff.”

The financial markets are still somewhat hesitant, he says, “but investors are starting to wake up.”

[catherine]

Interesting article, razz.. capitalism definitely needs a reset. Not a surprise that corporations can benefit mightily when “the bottom line is not the top priority" but great to see some inspiring case studies.

[dado potato]

Nutrien, the world #1 producer of potash, states their corporate goal as feeding the future safely and with integrity each day.

The company was established in 2018 with the merger of Potash Corporation and Agrium (formerly Cominco Fertilizers). Potash Corp was formed in 1975 by the government of the Canadian province of Saskatchewan, and the government sold its interest in 1989-1990. Sustainability is a priority. Nutrien's operations nonetheless have attracted some criticism over their environmental impacts.

Executives of Nutrien, as well as Unilever, walk and talk in contrast to the ethic laid down by Milton Friedman, who said the corporate executive's responsibility generally will be "to make as much money as possible while conforming to the basic rules of society."

[JaneV2.0]

I'd love to think the end of obscene vulture capitalism was at hand. I'd love to.

[LDAHL]

People who like to talk about priorities other than shareholder value often become very hostile when a business and it’s owners have values of which they do not approve. Chick-fil-A, for instance.

I think the best approach is to let business conduct business within the law and leaving the social justice stuff to other types of organizations and government agencies.

[Teacher Terry]

I don’t think the government should get involved but people certainly have a right not to patronize businesses they disapprove of.

[razz]

People who like to talk about priorities other than shareholder value often become very hostile when a business and it’s owners have values of which they do not approve. Chick-fil-A, for instance.

I think the best approach is to let business conduct business within the law and leaving the social justice stuff to other types of organizations and government agencies.

With time, there will be a greater understanding that both shareholders and the stakeholders both need to be heard.
https://www.csmonitor.com/Daily/2020/20200401?cmpid=ema:ddp:20200401
"In surprising news, many are also focused on ESG.

Those initials stand for a code of behavior in the business world known as “environmental, social, and governance.” In short, these are metrics used by more corporations in recent years to put stakeholders on par with shareholders. They focus on long-term sustainability over predatory short-term profits, on issues like climate change and inequality over the next quarterly report.

During the coronavirus crisis, for example, many workers are being furloughed instead of fired. Companies are donating equipment or finding other ways to help their community. They are suspending dividends to stockholders or putting off bonuses for executives.

But here’s the big news: According to research by Bloomberg Intelligence and RBC Capital Markets, investors who bought stocks in companies with strong ESG are faring better than other broad indexes so far this year. Money keeps flowing into ESG mutual funds, says Bank of America.

In other words, as the tide goes out on the global economy, doing good is paying off.

In the post-COVID-19 world, estimates the British bank Barclays, the use of ESG by investors may accelerate. Investors see the crisis as a warmup lesson for potential hits to the economy in the future, such as climate change. They are looking to corporations to help with our collective resiliency.

Despite the current panic among investors, many now see an upside to ethical values in companies over bottom-line profits. The virus crisis is lifting many codes of behavior. Why not in capitalism?"