THOUGHT FOR THE DAY
"It is only the . . . pragmatist, positivist, anti-conceptual mentality — which grants no validity to abstractions, no meaning to principles and no power to ideas — that can still wonder why a theoretical doctrine of that kind had to lead in practice to the torrent of blood and brute, non-human horror of such socialist societies as Nazi Germany and Soviet Russia. Only [this] mentality can still claim that nobody can prove that these had to be the necessary results . . . and still promise that its own gang would do it better and make it work — or still mumble in a quavering voice that the motive was love of humanity."
-- AYN RAND
"For the New Intellectual"
An excerpt from Chapter 1 of Capitalism: A Treatise on Economics, Volume I.
Economics has been defined in a variety of ways. In the nineteenth century it was typically defined as the science of wealth or of exchangeable wealth. In the twentieth century, it has typically been defined as the science that studies the allocation of scarce means among competing ends. 
I define economics as the science that studies the production of wealth under a system of division of labor, that is, under a system in which the individual lives by producing, or helping to produce, just one thing or at most a very few things, and is supplied by the labor of others for the far greater part of his needs. The justification of this definition will become increasingly clear as the contents of this book unfold. 
The importance of economics derives from the specific importance of wealth—of material goods—to human life and well-being. The role of wealth in human life is a subject that will be examined in ...
Andrew Bernstein's book is "among the best single presentations of the case for capitalism. (It is) amazingly good." - Harry Binswanger
Why do CEOs go woke?
...Most CEOs go woke because they are pragmatists. They believe that by appeasing the woke among their employees (which unfortunately include many business school graduates today), customers and investors, they believe to be protecting their companies’ profits—and their own generous compensation packages.
Rather than being true believers, these pragmatists pay lip-service to the causes they believe their stakeholders and shareholders hold dear. They virtue-signal, like the leaders of Canadian banks who posture as thought leaders on ESG, or like Larry Fink, who pretends to divest BlackRock of fossil fuels and has made a large portion of his fortune from them.
Why should CEOs reject ESG wokeness and virtue-signaling about it?