The ABC's of ESG: Vivek Ramaswamy - CPAC TX
Vivek Ramaswamy, entrepreneur and author of Woke, Inc., speaks at CPAC Texas 2022 about what he identifies as the single biggest threat to our society: stakeholder capitalism and ESG, or environmental or social restrictions. Stakeholder capitalism and the imposition of ESG present two problems. The first is, this arrangement allows politicians to impose policy, not through the legal way by legislation, but through the back door. Elected officials use their connections with corporate entities to implement policies on the American people without having to use the democratic system. The second problem that arises is that now essentially the governing power of America has been placed in the few, and unelected, hands of corporate stakeholders.
Ramaswamy explains that the origins of this arrangement lay in the 2008 financial crisis, when a new, more progressive wing of the Left emerged with an idea to control corporations with ESG laws. Corporations, frightened by the alternative “Occupy Wall Street” wing of the Left, accepted the offer. The situation has worsened as China has joined this arrangement, but managed to evade the same environmental and social restrictions imposed on American companies. China has cleverly leveraged this situation to its advantage, weakening and limiting the functioning and productivity of American companies while they prosper unabated and steal American industry.
Ramaswamy energetically urges for the even application of standards. He calls for the protection of political standing just as religion, race, and sexual orientation are protected. Ramaswamy ends with another call for conservatives to turn stakeholder capitalism on its head and use it to their advantage to lift up the country into prosperity.
He concludes, “May 2022 revives those ideals of 1776!”