Corporations Will Not Save Us: The Sham of Corporate Social Responsibility

TUESDAY, MAY 5, 2020

Last August, the Business Roundtable – an association of CEOs of America’s biggest corporations – announced with great fanfare a “fundamental commitment to all of our stakeholders” and not just their shareholders.

They said “investing in employees, delivering value to customers, and supporting outside communities“ is now at the forefront of their business goals — not maximizing profits.

Baloney. Corporate social responsibility is a sham.

One Business Roundtable director is Mary Barra, CEO of General Motors. Just weeks after making the Roundtable commitment, and despite GM’s hefty profits and large tax breaks, Barra rejected workers’ demands that GM raise their wages and stop outsourcing their jobs. Earlier in the year GM shut its giant assembly plant in Lordstown, Ohio.

Nearly 50,000 GM workers then staged the longest auto strike in 50 years. They won a few wage gains but didn’t save any jobs. Barra was paid $22 million last year. How’s that for corporate social responsibility?

More:
https://robertreich.org/post/617299740358574080