Ethan Peck on ‘Managerial Class’ Behind Woke Takeover of Corporate America

In April 2021, large corporations such as Coca-Cola, Delta Airline, and Home Depot rallied against Georgia’s election reform, parroting a leftist narrative that the measure was “racist.” It was seen by many as a manifestation of the “woke” takeover of corporate America, in which a company’s capital is diverted to left-wing causes that shareholders never intended to support.

The driving forces behind this trend, however, were not left-wing activists, but powerful mega-funds seeking to entrench their regime under the guise of wokeness, according to Ethan Peck, an associate at the National Center’s Free Enterprise Project.

“I think it’s a scam,” said Peck in a recent interview with NTD.

Peck, a free enterprise advocate who constantly engages corporate CEOs and board members at shareholder meetings, said many board members don’t genuinely believe in woke ideology, but use it as a tool to advance so-called “stakeholder capitalism.”

Stakeholder capitalism, as opposed to traditional shareholder capitalism, holds that a company is responsible for the collective interest of every member of society, rather than those who own the company’s shares. The concept, first introduced by World Economic Forum’s Claus Schwab in 1979, has since remained a fringe concept until recently, in the wake of the global CCP (Chinese Communist Party) virus pandemic.

Peck compared stakeholder capitalism to communism, where the state controls and redistributes resources in the name of a “greater good.” “It’s kind of the corporate version of communism,” he explained, adding that “it’s a trick. It just empowers the boards to basically take voting powers and rights from the shareholders.”

The Big Influence

When asked about the force pushing American corporate boardrooms to embrace stakeholder capitalism, Peck pointed to the world’s largest money managers: exchange-traded fund (ETF) giants BlackRock, Vanguard, and State Street Global Advisors.

“I think that the big influences are coming

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