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The war on 'woke capitalism'
Right-wing populists and industry sceptics are mounting a backlash against a vision for business that looks beyond profits
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People protesting against the World Economic Forum in Switzerland on May 25, 2022.
PHOTO: EPA-EFE
Andrew Edgecliffe-Johnson
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(FINANCIAL TIMES) - Last week's World Economic Forum meeting in Davos should have been a triumphant one for its host Klaus Schwab.
Nearly half a century after the economist launched his Swiss gatherings for world leaders, executives and financiers, his belief that businesses should serve all their constituents equally seemed to have prevailed over the old notion that companies exist only to make profits for their owners.
