Financial TimesFinancial Times

The war on ‘woke capitalism’

By Andrew Edgecliffe-Johnson

27 May 2022 · 7 min read

This week’s World Economic Forum meeting in Davos should have been a triumphant one for its host, Klaus Schwab.

Nearly half a century after the economist launched his Swiss gatherings for world leaders, executives and financiers, his belief that businesses should serve all their constituents equally seemed to have prevailed over the old notion that companies exist only to make profits for their owners.

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