Isn’t this lovely?

For FT copyright reasons I cannot note much else of what she said, but the essence was simple. Her suggestion was that capitalism without democracy is oligarchy, with winners and losers determined by autocrats. In that case, those tasked with institutional saving of pension and other funds have, she argued, a duty to fund those who support democracy in the USA and defund those who oppose it before it is too late to save, as it would be if Trump won in 2024. Her suggestion was that pension funds, university endowments and others have a duty to pass this message to companies: defunding Republicans is in the interests of mainstream America, she says.

I think she is right. I do not have to believe that all that the companies that she might invest in is useful, good or even right to think that they have a critical role in opposing the spread of the far-right anti-democratic forces that threaten to undermine the USA. That process is already underway as voter laws are changed to end democracy as anyone might reasonably recognise it in some states. It can only get worse if Trump runs for the Republicans again, as he might.

I would add that there are other issues where such an alignment of institutional investors and endowment bodies with political interests is required: support for action on climate change is the other that springs to mind.

So the establishment clique that controls institutional investment should invest on the basis of political bias in order to preserve democracy?


8 thoughts on “Isn’t this lovely?”

  1. If obscenely rich billionaires and the unaccountable megacorporations they control don’t use their economic power to bully and blackmail little people into accepting infinity immigration at home, forever wars abroad, and intersectional masturbatory fetishism in their children’s schools, there’s a danger of AUTHORITARIANISM.

  2. Nationalised industries have a proven track record of producing lousy and expensive products and services and of running at eye watering losses with the tax payer having to pick up the tab. A strange definition of being in the public interest.

  3. It’s certainly amusing that he’s demanding the ruling oligarchs fund those who support the oligarchy and calls that supporting democracy.

  4. I see the FT has finally stopped Murphy from publishing its articles wholesale “in the public interest”

  5. @BraveFart

    I did send a few emails to the FT pointing out Spud’s flagrant breaking of their copyright rules. I think they allow up to 30 words.

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