Woke, Inc.: Inside Corporate America's Social Justice Scam

Imagine a grand magic trick unfolding on the stage of corporate America, where the audience is dazzled by the bright lights of social justice and progressive values. At first glance, it appears that corporations have embraced noble causes, championing diversity, equity, and inclusion. Yet beneath this spectacle lies a carefully orchestrated act designed to conceal the true intent: expanding market power and enriching the elite. He who has the gold makes the rules. This simple but profound maxim encapsulates the essence of the corporate magic trick.

Take, for example, the iconic Fearless Girl statue installed facing the formidable Wall Street bull. To the public, she symbolizes female empowerment and the push for gender diversity in leadership. But the statue's true purpose was far more calculated—it was a marketing campaign by a major financial firm promoting an exchange-traded fund focused on companies with women on their boards. This same firm was grappling with internal lawsuits over gender pay disparities, yet instead of addressing these issues directly, it chose to erect a statue that would capture headlines and goodwill. This is the modern equivalent of planting trees in Harlem without actually planting any.

Stakeholder capitalism, the idea that companies should serve not just shareholders but also employees, communities, and the environment, has become the reigning ideology. In 2018, the Business Roundtable's top corporate leaders publicly committed to this broader mission. On the surface, this seems like a progressive evolution of capitalism. However, it also grants corporations the power to define societal values without democratic input, concentrating influence in the hands of unelected executives and investors. When corporations decide which social causes to champion, they effectively silence the voices of ordinary citizens in our democracy.

This dynamic creates a potent illusion: corporations appear to be moral leaders, yet their actions often prioritize market dominance and profit over genuine social progress. The performance is convincing because it taps into widespread desires for justice and inclusion, making it difficult for observers to discern the underlying motives. Corporate wokeness is a smoke screen, a carefully crafted distraction that enables the accumulation of economic and political power.

As we move forward, it's crucial to recognize this interplay between capitalism and social justice rhetoric. Understanding the 'Goldman Rule' helps us see that financial power shapes not only markets but also moral and cultural norms. This awareness sets the stage for exploring the rise of the managerial class and its implications for both business and democracy.

Let us now delve deeper into the emergence of this influential managerial elite, whose ambitions and actions further complicate the landscape of modern capitalism.