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The New “Stakeholder Capitalism” is the Old Fascism: Control Without Ownership

The elites gathering to greet, meet, and eat in Davos, Switzerland this week have an agenda: fascism on a global scale. They dare not call it that, of course. Instead, the cover is called "stakeholder capitalism," being promoted to replace the old, outmoded "shareholder capitalism" that has lifted the world's standard of living to heights never dreamed of.

As Bill Jasper noted in The New American on Wednesday, the real agenda of the Davos confab taking place in Switzerland is giving more and more power and control to the elites in order to make the world more "sustainable." He wrote: "This involves us giving them – the saviors – more power and more money." The partners supporting the World Economic Forum (WEF) vision include Big Business, Big Banking, Big Tech, Big Foundations, Big Green, and Big Labor. Noted Jasper, "This united front pushes for more Big Government as the solution to every "crisis" – with Global Total Government as the ultimate solution."

The "crises" du jour Davos is laboring to solve consist of "income inequality," "climate change," and "political polarization." The solution: changing how corporations operate to meet those needs and solve those problems, by force.

The real intentions of the gathering at Davos were barely visible in 1973 when its "Code of Ethics for Business Leaders" concluded that "the long term existence [of corporations] cannot be ensured without sufficient profitability … profitability is the necessary means to enable the management to serve its clients, shareholders, employees, and society [emphasis added]."

As the world's standard of living moved inexorably higher thanks to individuals and companies operating under Adam Smith's "invisible hand," the code had to be revised. And so, in 2020 the Davos code now reads:

A company is more than an economic unit generating wealth. It fulfils human and societal aspirations as part of the broader social system. Performance must be measured not only on the return to shareholders, but also on how it achieves its environmental, social and good governance objectives….

Corporate global citizenship requires a company to harness its core competencies, its entrepreneurship, skills, and relevant resources in collaborative efforts with other companies and stakeholders to improve the state of the world [emphasis added].

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