President Donald Trump appointed Andrew Puzder ambassador to the European Union this past week. But before he heads to Brussels, Puzder is warning about the left-wing scourge of stakeholder capitalism.
As the former chief executive of CKE Restaurants, a major fast food corporation operating Carl’s Jr. and Hardee’s, Puzder knows what it takes to run a successful business. That’s why he’s so alarmed at the trends he’s witnessing in corporate America.
Puzder spoke to The Daily Signal about his new book, “A Tyranny for the Good of its Victims: The Ugly Truth about Stakeholder Capitalism.”
“Why would family-friendly brands like Disney or Target or a brand like Anheuser-Busch that’s trying to appeal to beer-drinking guys … advance the transgender agenda?” Puzder said. “It just doesn’t make any sense. Or why would ExxonMobil and Chevron adopt net-zero carbon emissions policies when the product that justifies their existence, their most profitable product, is gas and oil?”
“It’s because there really is a group of financial elites, people who run these large asset management firms who are trying to impose this leftist, radical, woke cultural agenda on America—on us.”
Puzder pointed to three firms in particular: “BlackRock, State Street, and Vanguard—and add them together, they are the largest shareholder in about 80% of the companies in the S&P 500.”
He explained, “This is a very powerful voting block, which really can direct how these companies go and indirectly how our economy goes, and by proxy, all of us. That affects everybody.”
Even though the environmental, social, and governance (ESG) agenda appears to be in retreat, Puzder warned that consumers still need to be on guard. He pointed to activist Robby Starbuck’s recent success as an example of how Americans could fight back.
“The Left certainly is very good at patronizing companies that support their values,” Puzder said. “On the Right, we need to be just as good or better, and sometimes that’ll cause a little pain, but I think we need to let these companies know what we think.”
In the interview, we also cover:
- How BlackRock, Vanguard, and State Street accumulated unprecedented control over U.S. corporations
- The real meaning behind ESG policies and their impact on American business
- Why major brands are adopting policies that seem to conflict with their customer base
- The effectiveness of consumer boycotts against woke corporate policies
- Capitalism’s historic role in reducing global poverty
Purchase your copy of “A Tyranny for the Good of Its Victims.”
This article was originally published at www.dailysignal.com
