JP Morgan CEO Jamie Dimon said in an interview at a June 1 conference that his push toward “stakeholder capitalism” was being misconstrued as being “woke” and that he remained “a red-blooded free-market capitalist.”
“I’m not woke. And I think people are mistaking the stakeholder capitalism thing for being woke,” Dimon told a conference organized by Autonomous Research, according to Financial Times. “All we’re saying is when we wake up in the morning, what we give a [expletive] about is serving customers, earning their respect, earning their repeat business.”
Stakeholder capitalism goes beyond traditional shareholder capitalism, which focuses on actions that are favorable to its stock appreciation, to encompass “socially responsible investing” and “environmentally sustainable” methodology with a responsibility toward its “stakeholders,” such as workers, community, and other factors….
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