A Tyranny for the Good of Its Victims: The Ugly Truth about Stakeholder Capitalism

Former CEO of CKE Restaurants, Inc. Andrew F. Puzder exposes how the secretive consolidation of financial power under the guise of "ESG" represents a new collectivist threat to the free market.

Over the last thirty-five years, asset manager mega-giants BlackRock, State Street, and Vanguard have accumulated unprecedented levels of stock ownership in virtually every major US company. Voting the shares they hold for clients allows these companies to force their own "environmental, social, and governance" or "ESG" agenda on the American corporate sector and, by extension, on all of us.An asset manager's traditional duty is to maximize returns for its investors, but these financial elites expand their duties through "stakeholder capitalism," the idea that a company is responsible not only for its actual shareholders, but for everyone who is affected by the company--which translates to everyone in the community. Thus, they can impose their preferred ESG goals under the guise of benefitting an amorphous group of non-investors--a group that has no say over whether ESG goals actually "benefit" them.This elite-dominated economic system is nothing more than socialism in sheep's clothing. "ESG" defines the champagne socialist agenda that would devastate the working and middle classes globally. Now, in the face of rising opposition, these financial elites are suddenly rebranding--shifting their terminology to conceal their intent.A Tyranny for the Good of its Victims exposes how, although they may abandon the acronym "ESG," these elites have pursued--and will continue to pursue--their ESG goals: to transform our consumer-driven free-market economy into one that is subject to their elitist demands, overriding the will of the people whom they deem incapable of self-government.

Author: Andrew F. Puzder
Publisher: Encounter Books
Published: 01/14/2025
Pages: 349
Binding Type: Hardcover
Weight: 1.45lbs
Size: 9.00h x 5.90w x 1.30d
ISBN: 9781641774154

About the Author
Andrew F. Puzder is an author, speaker, political commentator, attorney, and retired chief executive officer. For seventeen years he served as the CEO of CKE Restaurants, Inc., an international corporation that owns popular restaurant chains Carl's Jr. and Hardee's. Puzder became CEO in 2000 and led the company out of serious financial difficulties. Puzder is a distinguished fellow at the Heritage Foundation and a senior fellow at Pepperdine University's School of Public Policy and the America First Policy Institute. He is also a member of the Reagan Institute's National Leadership Council and a Reaganomics lecturer. He serves on the advisory boards of the State Financial Officers Foundation, Washington University's School of Law, and Prager University. Puzder is a frequent lecturer on economics and politics. He is a sought-after commentator on economic and political issues in national publications and a regular guest on cable news shows.