Another dim view of stakeholder capitalism

"Since profits result from increasing revenue and cutting costs, businesses that put profits first have to work hard to give customers more while using less. In short, profits are an elegant and parsimonious way of promoting efficiency within a business as well as society at large.

Stakeholder capitalism ruptures this process" (WSJ, Dec. 2020).

The writer identifies four reasons that CEO's might sign on to the Great Reset.

1. Some people ... may simply prefer that firms take politically correct stances and don’t consider the cost. 
2. Others may think it looks good in a press release and will never go anywhere. 
3. A third group may aspire to jobs in government and see championing corporate social responsibility as a bridge.

4. Finally, there are those who think they can benefit personally from the reduced corporate efficiency. As businesses redirect cash flow from profit-directed uses to social priorities, lucrative positions of management, consulting, oversight and more will have to be created. They’ll fill them. This is rent-seeking, enabled by the growing confluence of business and government, and enhanced by contemporary social pieties.