Republicans love to talk about their devotion to the principles of free-market capitalism. Notice I said talk. But when it comes to action—as exemplified recently by their unprincipled attempts to ban environmental, social, and governance (ESG) investing—they reveal that their true devotion is to the interests of their friends (i.e., major donors). That makes them crony capitalists.
By vetoing that Republican-led attempt, President Joe Biden demonstrated that he's actually the one devoted to coherent principles of ethical capitalism—namely the idea that companies should be free to set their own direction, at least as long as they don't harm or exploit people in doing so. Who'd have thought that Biden would be the better capitalist—in every sense of those words—as opposed to the Party of Trump?
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