Woke, Crony Capitalism Takes Hold Down Under
Commentary
The corporate campaign backing a change to Australia’s Constitution is the latest installment in large business bludgeoning not just customers, but everyone, over woke causes.
It’s a form of crony capitalism verging on fascism. It’s bad for the country, and it is bad for the government.
Large companies are primed for it by the ideas of “stakeholder” capitalism. This suggests a role for business beyond merely making widgets and returning profits to owners.
It is turbocharged by the decreased role of private capital in big business, and the increasing bureaucratisation that goes with scale.
Where once owners might have stalked the corridors, now it is paid employees, there for a few years, and then on rotation to another higher paying job at a rival….