Economists: 'Woke Capitalism' Could Ruin U.S.

"Woke capitalism" may just be the end of the United States. Even those who started the trend, now admit it's not sustainable to make global business decisions based on climate change and politics.

We're talking ESGs or environment, social and governance issues many corporations now use to guide their investments. We're already seeing a trickle-down effect when it comes to cutting off capital to oil and gas companies.

"You've got fertilizer plants in the United Kingdom that are offline because they don't have electricity or natural gas. You have soybean processing plants in China that are offline for 30 days that produce feed stock for animals in the United States, Brazil and Argentina," says Jason Isaac, director of Life: Powered at the Texas Public Policy Foundation.

Isaac believes ESG is causing energy shortages like the 70s and a spikes in food prices and across the board.

Texas passed a law last year in response to Chase bank cutting off capital for gun manufacturers.

Isaac says these businesses have painted themselves into a corner.

"They have to appease their, what I call self-righteous coastal elite investors, by making these political statements which have nothing to do with their business, nothing to do with making money, but appeasing a few investors."

Three wind turbines at sunrise

Photo: Getty Images

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