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WSJ Opinion: Free Expression

The Pushback to Woke Capitalism

WSJ Opinion: Free Expression

Gerard Baker, Editor at Large, The Wall Street Journal

Society & Culture, News

4.6591 Ratings

🗓️ 19 October 2022

⏱️ 34 minutes

🧾️ Download transcript

Summary

On the latest episode of Free Expression, entrepreneur Vivek Ramaswamy tells Wall Street Journal Editor at Large Gerry Baker why there is a growing backlash to woke capitalism, why both sides of the cultural divide have embraced victimhood, and why there will be major hurdles on the road back to excellence.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

From the opinion pages of the Wall Street Journal, this is Free Expression with Jerry Baker.

0:08.5

Hello and welcome to Free Expression with me, Jerry Baker, from the Wall Street Journal editorial page.

0:13.1

Thanks very much for joining us.

0:14.2

If you're not already a subscriber, please be sure to subscribe at Apple Podcasts, Spotify, or wherever you get your podcasts.

0:19.8

And do please leave us a five-star review.

0:22.2

This week, we're going to take a look at the takeover of American capitalism in recent years

0:26.3

by progressive, woke ideology. Companies from Apple to Disney, Coca-Cola, and others,

0:32.4

commit themselves now to many of the nostrums of the modern left on issues such as racial

0:37.1

equity, gender and identity

0:38.6

politics, climate change. Is there a backlash brewing? The ESG craze, the idea that companies

0:44.8

should be judged not simply by their financial returns to shareholders, but on their performance

0:49.0

on progressive standards in the field of environment, social governance matters. Has that ESG

0:53.5

craze now gone too far? With the

0:55.7

economy facing tough headwinds, could there be a return to simply pursuing the time-honored objective

0:59.7

of all successful companies, profitability? To discuss this today, I'm joined by Vivek Ramoswami.

1:05.1

Vivek is an entrepreneur, commentator, and author, and I think it's fair to say, one of the

1:10.0

most fearsome scourges of so much of our

1:12.1

modern woke ideology. He founded Biological Sciences firm Royvent Sciences and went on to create

1:16.8

a number of other new businesses. Most recently, he co-founded Scribe asset management. That's a firm

1:22.2

that invests with a goal of getting companies to back away from controversial social or environmental

1:26.7

issues and simply focus on making money. He's the author of Woke Inc. Inside Corporate America's Social Justice Scam, which was published last year, and his latest book is Nation of Victims, Identity Politics, The Death of Merit, and the Path Back to Excellence. Vivek Ramoswamy joins me now. Thanks very much for being here. Who to be on, Jerry. How are you doing? Great, thanks. Congratulations on the new firm and the new

1:47.1

booked. I want to talk first of all about corporate wokeness or what's happened to so many American

...

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