Opinion: Culture war follies could destabilize our financial system
SACRAMENTO – At the retail level, the culture wars have taken a particularly silly turn as conservatives celebrate Anheuser-Busch’s falling stock prices following a widespreadof Bud Light after it partnered with a transgender social-media influencer to promote the beer. The Mexican beer Modelo has soared into the top spot in U.S. beer sales as a result.
Watching people self-destruct on social media over piffle has a certain entertainment value, but politicians on the Right and Left are taking these battles onto a broader stage where the economic damage could be more lasting. The latest alphabet soup battle involves something known as As with all such corporate diversions, it combines sensible strategies and best practices with political correctness and busy work. It reminds me of the time decades ago when I worked on an Air Force base and the managers embraced TQM . It was a clever idea designed to empower workers at every level, but ended up mainly as a box-checking exercise and excuse for long meetings and boring seminars.
At the political level, however, ESG – and the reaction against it – has become a means for elected officials to use their respective governments’ massive financial clout to achieve desired cultural aims. That’s where this latest cultural battle front is becoming dangerous.
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