A Tyranny for the Good of its Victims
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Former CEO of CKE Restaurants, Inc. Andrew F. Puzder exposes how the secretive consolidation of financial power under the guise of "ESG" represents a new collectivist threat to the free market. Over the last thirty-five years, asset manager mega-giants BlackRock, State Street, and Vanguard have accumulated unprecedented levels of stock ownership in virtually every major US company. Voting the shares they hold for clients allows these companies to force their own โenvironmental, social, and gover
Our Review
This book delivers a sharp critique of how massive financial institutions have weaponized ESG principles to reshape corporate America against shareholder interests. The author argues that BlackRock, State Street, and Vanguard have accumulated unprecedented voting power through their stock ownership, enabling them to impose environmental, social, and governance mandates that prioritize political agendas over market performance. Drawing from his corporate leadership experience, he presents a compelling case that this coordinated influence represents a fundamental threat to economic freedom and shareholder rights. The analysis exposes how what appears to be socially responsible investing actually functions as a coercive system that undermines genuine market competition.
What makes this work particularly impactful is its insider perspective on how these financial behemoths operate behind the scenes to enforce ideological conformity across entire industries. The author doesn't just identify the problem but traces how three decades of financial consolidation have created a new form of corporate collectivism disguised as progressive reform. Readers concerned about financial freedom, corporate governance, and the intersection of politics and economics will find this an urgent warning about the silent transformation of American capitalism. The book ultimately challenges whether institutions managing other people's money should wield such concentrated power to remake society according to their vision.
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