Armstrong Economics Blog/Economics
Posted Jul 8, 2020 by Martin Armstrong
QUESTION: It would please me if you would comment on the subject of “Stakeholder Capitalism” vis-a-vis this article from Forbes.
ANSWER: I have actually have gone into detail on Schwab’s absolute Marxist philosophy of “stakeholder” economics where a corporation’s first loyalty is to the community and not the shareholders to the point it must even take care of the homeless. This is the foundation or core objective of the World Economic Forum. It is simply Marxism and it will fail in such a grand way, it will completely destroy our economic system. Corporations are overtaxed for they pay taxes on income, then a dividend tax, and then the shareholder pays income tax. They are not charitable organizations and no government treats them in such a manner. This nonsense of being fair is the same reasoning applied so many times and it has ALWAYS, without exception, destroy the economic system where it has been deployed – NO EXCEPTIONS!!!!!!!!
Yes, I have personally met Klaus Schwab. Sorry, I really see him as a serious threat to the world economy because he has built his following with the World Economic Forum which in itself is not allegedly known for its own transparency when it comes to its finances. This Stakeholder Economics of Schwab is nothing more than Marxism in Sheep’s Clothing.