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The real winner will short the stock beforehand.This week, with the moral authority of the abs that can cut sushi, Cristiano Ronaldo cleared two bottles of full-fat Coke from the press conference stage and welcomed it. water instead.
The condemnation of the most-followed person on Instagram will sting any company. The subsequent market value of $4 billion will also be impacted. But few people doubt themselves like Coca-Cola.Its “2020 Business and Environment, Society and Governance Report” (yes, two “ands”) is a 82 pages Apologies for its core product, if not the business itself.
At this point, it is natural to compare the piety of modern companies with their Rococo tax plans. (Sure enough, Coca-Cola has financial problems with the federal government.) But I no longer think that the first is incompatible with the second. It is best understood as its product. The rise”Corporate Social Responsibility” with”Environment, Society and Governance“-How can I love an acronym-reflects the gradual decline in the effective corporate tax rate.
The basic principle of the top management is transparent: we deny the common wallet, we correct it in other ways, or at least muddy. It’s not just guilt that makes multinational corporations the motto of the cultural left. Not only was it naive, it also prompted the bank to hire a group of pleasant sustainability consultants. Is calculation. A sly fox is driving away the hound.
If I’m right, then higher and better-executed taxes will follow that means the end of this self-righteous company. Essentially, companies will buy the right to live a free life again. We can go back to the time when it is a social welfare to produce what people want and share the benefits with the government. In this sense, a stricter tax system is a strengthening of capitalism.Few people praised The most recent G7 agreement More on this topic. Few things make the so-called conservative opposition even stranger.
1984, The most prescient thing Orwell has ever written, misread the trajectory of the left. The coming power is not the state, even in Russia, the state is at its peak at the time of publication. That was a demonstration by Gramsci between institutions. The result will not be totalitarianism, just annoying and conceited.
This harmless performance is the workplace as a group therapy. Call me British, but my expectation from employers is that they send monthly wire transfers and meet the statutory minimum requirements such as paid vacation. If they help me through difficult times, they can expect mutual loyalty. I don’t want to have pastoral exchanges with them, or change the world together.
Even more creepy is the real savior enterprise. Coca-Cola hopes that its American workforce will “be in line with” ethnic census data, just like residential areas in Singapore. Microsoft’s corporate social responsibility mission seeks immigration reform, better humanitarian crisis response, and “alternatives to imprisonment.” It is similar to the plan of a political party (one, to be clear, I will vote for it), and sometimes similar to the bill of rights of a nation-state.Even if you can bear the government’s tax hunger, who believes that this Napoleonic range of activities is good after business? In the old sense, who thinks it is sustainable?
Christopher Hitchens responded to those well-intentioned but boring believers who insisted not to preach or act according to the most despicable scriptures. “You just said these people are so nice, they don’t believe in religion at all.”
This is CSR. The point of it is that a company is good in its behavior that does not resemble a company. Job creation, innovation, consumer choice: these are all taken for granted. In its own “please be like us” report, Nike assured adults who bought its stupid shoes that at least 1.5% of its total income was used for “community influence.” This means that hiring people will not affect the community.
As an intellectual concession, this is huge, and companies have used it to hide the rigidity of tax officials. The harm to the country is good enough. Over time, the damage to capitalism itself is built up insidiously. The cash saved directly is not worth the long-term pollution of the atmosphere in which companies must operate. The obvious way to get rid of this trap seems expensive. In fact, this is a bargaining transaction. Return Caesar’s things to Caesar.
Email Janan at janan.ganesh@ft.com
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