Many criticisms have been leveled against Elon Musk— that he’s portion of the elite, that Tesla has been the beneficiary of government handouts and exemptions, that his transhumanist Neuralink is a brain-data-mining operation.
Yet his prepared purchase of Twitter, his supposed free-speech absolutism, and his subsequent renunciation of the Democratic Party as “ the party of hate” have place Musk squarely in the crosshairs of the woke cartel.
Vitriolic Twitter thunder or wind storms, a New York Periods – Financial Times biographical exposé , a slew of hit pieces and scaremongering segments in the legacy media, and allegations of sexual harassment have dogged the automobile magnate ever since his Twitter bid. In response, Musk announced on Twitter that he is assembling a legal crew to sue defamers and protect Tesla (and likely himself) against lawsuits.
But the best indication the fact that woke cartel has actually gone berserk is its removal of Tesla from the S& P 500’s ESG (Environmental, Social, and Governance) Index. This last rebuff proves that “ ESG is really a scam . ”
I’ve contended that the ESG is a means for dividing the woke wheat from the unwoke chaff to assemble a woke monopolistic cartel, but this particular exclusion is especially hypocritical and ludicrous. Tesla has created more electric vehicles compared to any other manufacturer, yet Exxon Mobil and JP Morgan Chase rank among the S& P 500’s top ESG performers after a recent rebalancing. JP Morgan is the world’s largest buyer in oil producers and ExxonMobil ranks first among them.
The causes given for axing Tesla from the index also prove that ESG indexing is definitely political to the core. Produces Margaret Dorn of Indexology Blog :
A few of the factors contributing to its 2021 S& P DJI ESG Score were the decline in criteria degree scores related to Tesla’s (lack of) low carbon strategy and codes of company conduct. In addition , a Mass media and Stakeholder Analysis, a procedure that seeks to identify the company’s current and potential future exposure to risks coming from its involvement in a controversial incident, identified two separate events centered around promises of racial discrimination plus poor working conditions with Tesla’s Fremont factory, in addition to its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles. These two events had a negative effect on the company’s S& P DJI ESG Score at the criteria level, and subsequently the overall score. While Tesla may be playing its part in taking fuel-powered vehicles off the road, it has fallen at the rear of its peers when analyzed through a wider ESG lens.
What we should see through this “ broader ESG lens” is a politics spectacle. ESG grading, notes Bloomberg , is a measure of public relations imagery, not environmental performance. Tesla has been besmirched with bad press regarding supposed racial discrimination, and Musk’s Southern African provenance is used to aid such allegations. In 2018, Business Insider claimed that Musk was a beneficiary of an apartheid emerald mine owned simply by his father, Errol, and worked by black Southern Africans. Twitter mobs as well as other media outlets have carried on to repeat the allegation, despite Musk’s convincing refutation .
Tesla and Musk have thus been subjected to the S in ESG— the “ social” or “ interpersonal justice” quotient. “ Diversity, equity, and inclusion” indicates exclusion of the politically wrong. This applies to corporations just as much as it does to individuals. Musk has been deemed a deplorable, and thus his company does not pass “ social justice” muster.
Therefore, Musk has exposed the particular contradictions within the woke cartel’s measurement apparatus. Anything that may be used against a company, or its owners, will be used—
when the target runs afoul of the woke arbiters, that is. That’s because the ESG is an impressionistic, qualitative metric that subjects companies to the whims of a woke dictatorship.
I’m not suggesting that Musk is a free-market hero or a lowercase libertarian, but there is small doubt that he’s become corporate enemy number one for the state-backed woke cartel. The particular battle shaping up in between Musk and the regime will prove to be an important one, if only because it pits the power of the latter against a high-visibility manufacturer and the reputed “ richest man in the world. ” What we will learn is how powerful the woke assimilation is and just how far it will eventually go to infringe property rights and eradicate any leftover legitimate (consumer-based) market criteria— no matter how much its moves reek of hypocrisy or how obvious its vendetta.
In today’s political economy, satisfying shareholders plus customers has become less essential than ingratiation with the woke cartel and the government that supports it. Corporations’ fealty to wokeness, state dictates, and state narratives can be explained in terms of a fully politicized economy. Corporations seek in order to curry favor with the clique in power, and thus they have got become organs of the Democratic Party and the federal government this now runs unilaterally.
Woke corporatism is exactly what happens when social democracy or even democratic socialism grows to such proportions as to make profiting nearly impossible without politics approval. Unfortunately, Elon Musk will learn much more about woke political capitalism in the not-so-distant upcoming.