It is also a business whose rogue ice-cream brand Ben & Jerry’s insists on repeatedly rallying against Western foreign policy whether it’s Israeli settlements in the West Bank, or Joe Biden’s decision to send additional troops to eastern Europe in an effort to dissuade Russia from invading Ukraine. Not only do some want the state to be more involved in the affairs of business, many also want business to be more involved in the affairs of the state. This applies across social and environmental issues under the guise of ‘stakeholder capitalism’, replacing traditional profit-driven ‘shareholder capitalism’. Businesses, it is claimed, should accept lower profits in order to contribute towards social and environmental goals. If the economy is going to flourish after the crisis, the state will need to allow the private sector to adapt to its new circumstances.
It must avoid continuing to crowd out private sector activity, propping up … Read More