From Harvard to Hong Kong, stakeholder capitalism is gaining popularity at elite business schools worldwide. Followers of this trendy concept believe that a corporation, instead of primarily operating to benefit shareholders, should work to benefit all interested parties — or “stakeholders” — including suppliers, local communities, and governments. Stakeholder capitalism largely overlaps with efforts to advance so-called “environmental, social, and governance” (ESG) outcomes — a vaguely defined trio of left-wing priorities.
Read MoreCommentary: The Nonsense of Stakeholder Capitalism
