Thursday, February 24, 2022

The Rise of the DEI/ESG Commissars


Who remembers the Hunt for Red October? Based on the Tom Clancy novel, Sean Connery plays a Soviet sub captain who plans to defect to the U.S. along with his senior crew.

But before that can happen...

there's this one crew member who could foil the whole thing, and he needs to be dispatched. His position? 

The political officer.

And who is that? He's the one whose entire job is to make sure nothing transpires on the ship that runs afoul of Marxist orthodoxy. 

Often called political commissars, political officers became a common practice in all communist countries. It turns out that nobody much likes living under communism, so rigid control, directed from the top, was critical. Enforcers were needed everywhere to sniff out any potential troublemakers. 

But more than just policing, the commissars are responsible for a unit's political education. Officers and enlisted men were forced to sit through endless dreary lessons on Marxist/Leninist ideology.

Ideological conformity was paramount.

Like a lot of bad ideas, political officers first appeared in France, in this case during the Revolution. They were called commissaires politique. The Soviets adopted the idea shortly after their own revolution, and the Chinese Liberation Army continues the practice to this day.

But...now we do too.

I was talking to a prominent Ivy League professor the other day, one who will go nameless (for obvious reasons—the Ivies don't tolerate thought criminals). He laments that his school is not the same that it once was, calls it ideologically oppressive, and that it's only gotten worse under the Ivies' iron grip of Covid. (Obey!)

But hey, tell us something we don't know. The once great Ivies have become rigid, depressing places (longtime Naked Dollar readers know I've chronicled this many times in the past, particularly where my own alma mater is concerned.)

What I didn't know, and what I learned, was just how pervasive and intrusive the DEI complex has become on campuses. And I'm someone who thought he knew how bad it was.

It's worse.

A quick story is relevant here. 

The villain in my novel Campusland is the dean of diversity and inclusion at a fictitious university (located in "Havenport, Connecticut"—draw your own conclusions). At some point, I had to decide how many employees to put in her department. After trying and failing to find out how many DEI employees several Ivies had (they pretty much bury the info), I settled on thirty. I figured, hey, this is satire, so I'm allowed to exaggerate.

Almost to the day that Campusland hit the bookstores, I found out Yale's actual number.

150. 

If you'd read that number in a satiric novel, would you have bought it? Me neither.

Anyway, back to my professor friend.

He said that his department's DEI "coordinator" had many objections to a book he was getting published, mostly around what was deemed "triggering" terminology and characterizations. Mind you, this was a science-based book. The professor had to fight his own school's DEI bureaucracy over words


An Ivy League School

Think about that. Every department at this Ivy has not only a dedicated DEI bureaucrat, but, according to the professor, subcommittees as well.

He added:

"They take up so much of everyone's time, make everyone nervous about saying/teaching/basically thinking the wrong thing. But they feel important, and the faculty encourage them because all are afraid to be the white men who set boundaries."

All of academia lives under the jackboot of DEI commissars. Their power is enormous.

But the professor's story doesn't end there. His outside publisher had something called a "sensitivity reader."

What's that, you ask? Pretty much the same thing as the DEI coordinator. They screen your work for wrongthink, to borrow from Orwell.

I called my publisher and asked about this. It turns out that at major publishers, every book, fiction and non-fiction, is put through this ideological gauntlet. Everything you read now has been scrubbed and sanitized by some nameless, faceless wokester who finds offense in everything. (Campusland, apparently, snuck in under the wire just before this took over the industry.)

The sensitivity reader in the professor's case had fifteen pages of comments. Fifteen! I read them myself, and they are as particulate and ridiculous as you might imagine.

The apparatchiks are everywhere now. (Conform!)

Which brings us to the financial industry and something called "ESG."

If you're not familiar with this, ESG stands for "Environmental, Social, and Governance." (It is part and parcel of something called "stakeholder capitalism.")

ESG investing means putting your money where your values are. There's nothing ostensibly wrong with that—it's your money, you can invest it as badly as you like. But the system has been hijacked by the money managers, most notably Blackrock and its CEO, the odious Larry Fink. Rarely has someone gotten so wildly rich off the very system he seeks to destroy.


Larry Fink

At $9 trillion of AUM, Blackrock is easily the largest money manager in the world. They take those trillions and invest practically everywhere.

Why does this matter?

Because Larry Fink is irredeemably woke, and he has made Blackrock into an activist investor. 

Want them to invest in your compoany? Better be ESG compliant. 

But what is ESG compliant?

Increasingly, investors rely on ESG "scores," actual grades for each of the three category. These can be very subjective. For instance, should Exxon get a high score or a low score? On one hand, they are an oil company, and we all know they're evil. On the other hand, they're really trying to do something about it. (Correct answer: low score. Because oil.)

A lot of power is in the hands of the people creating these scores, most notably Morgan Stanley. Think these committees are run by conservatives who value, say, cost-benefit analyses? If you do, I've got a solar array in Seattle I'd like to sell you.

(Also, what about the conflict? Will Exxon's ESG score magically change when Morgan Stanley's banking department is trying to raise capital for them?)

This is all a bit like social media companies hiring left-wing-grifters-dressed-up-as-do-gooders like the Southern Poverty Law Center to decide who should be de-platformed. Or worse, it's an eerie echo of China's social credit system (now seemingly being adopted by Canada).

ESG investing is all about subverting free market capitalism to the will of the woke progressive agenda. 

The real fun starts after ESG investors invest, when they start laying shareholders resolutions on your company, forcing adherence to ESG doctrine. That's when they really start throwing their muscle around and voting all those shares—money that isn't actually theirs! That money belongs mostly to small investors via pension funds, investors who likely know little of what's being done in their name.

ESG adherents claim they are "doing well by doing good." But there's no evidence they're doing either. In fact, by forcing companies out of profitable businesses, like say, fracking (the "E"), by compelling companies to pursue (always progressive) social causes that have no link to shareholder profits (the "S"), or by forcing appointments of possibly less-than-qualified board members in the name of diversity (the "G"), it does nothing but undermine profitability. 

But let's say you run an investment company, and you just want to keep running money like you used to and not have to filter everything through the lens of social justice.

No problem, right?

Wrong.

The Long March has captured regulators, the accrediting institutions, the consultants, and the pension allocators. The auditors will be next, according to one source. RFPs ("requests for proposal") are now littered with questions about your firm's commitment to the various tenets of wokism. According to one invesment company CEO I spoke to, "Best practices now encompass ideology. No debate, no appeal."

If you want your firm to succeed, you must bend the knee.

He added the following:

"Pension allocators are the sneakiest. They are effectively creating law, public policy, and enforcing it without voter input, debate, or even knowledge. Given their size, their standards run downstream, changing everything..."

And now, if your firm is of a certain size, you are all-but-required to have full-time ESG staff. They are your embedded commissars, and their power increases by the day. You may have graduated, but you are still on campus.

I've singled out education and finance in this piece, but DEI bullies, sensitivity readers, and ESG monitors are spreading everywhere, in every manner of organization. They are a cancer, a modern Red Guard, and will ruin your career and your company if you step out of line.

So, comrades, you know what to do.

Obey.








 

Monday, February 21, 2022

The Pulitzer Prize Is a Fraud

 


The Pulitzer

A couple of years ago, I wrote a piece called Conservatives Don't Win Stuff. It was based on my observation that, well, conservatives don't win stuff.

This is because the Long March through the Institutions (which I also wrote about here) is over. The left now controls them all, including once rock-ribbed GOP redoubts such as the Fortune 500.

Among these many institutions are, of course, the various bodies that have anointed themselves as the "giver of awards." The Motion Picture Academy, the MacArthur Fellows (they of the "Genius" Award), the Rhodes Trust, the Nobel Committee...let's just say you'll find a clean subway car in New York before you find a conservative on one of these boards.

So be it. 

But one pestiferous purveyor of these accolades deserves an extra-large, heaping pile of our scorn: the Pulitzer Prize Board.

For background, the Pulitzers have long leaned hard-left. For instance, way back in the 30s, they gave the New York Times Moscow Bureau Chief, Walter Duranty, the coveted award for his propagandistic coverage of Josef Stalin, which included some delightful reportage such as the following, about the kulaks (farmers):

Walter Duranty

"Must all of them and their families be physically abolished? Of course not–they must be 'liquidated' or melted in the hot fire of exile and labor into the proletarian mass."

Nice.

Duranty also pointedly ignored the biggest story in the Soviet Union during the 1930s, the policy-driven famine that killed tens of millions. His reporting provided intellectual cover for an entire generation of campus-based Marxist wannabes.

Duranty was so awful that the Times itself disavowed the coverage (albeit some five decades later). Can you imagine?

So, the Pulitzer people took back their little prize, right? 

Nope.

Despite being formally petitioned by various groups twice, they declined to do so.

What really separates Pulitzer from the pack, though, happened far more recently, when they gave the award to both the New York Times and the Washington Post for each's "deeply sourced' and "relentlessly reported" coverage of the fanciful "Russiagate" scandal.

Of course, we now know, with 100% clarity, that the entire thing was a fraud concocted by Donald Trump's political opponents. There was plenty of reason to think this then, too, but I don't need to rehash all the details of why in this post. If you want some great reporting on just how outrageous this Pulitzer was, I refer you to this excellent piece in the New York Post. 

Needless to say, the Times and the Washington Post have not returned their awards, and the Pulitzer Board had not asked for them back. All parties probably think the Russia narrative could have been true, even if it blatantly wasn't.

We're all good here.

But this got me wondering. Who's behind curtain? What kind of people would make such a horrendous mistake and not even attempt to walk it back.

One of the wonderful things about the internet is that it's easy to find out such things. 

Unlike the mostly center-left Lovely People who inhabit school boards, about whom I have written, these people are committed progressives. The Pulitzer Board consists of precisely what you'd imagine: a rogue's gallery of academic, journalistic, and NGO leftists. All but one live on the coasts (the sole exception living in coastal aspirant Austin, Texas).

I present to you, the Pulitzer Board:

(Perhaps genuflect as you read these names—these people are very elite and went to very good schools.)

Elizabeth Alexander - Head of hard-left Mellon Foundation, big Obama supporter. Read her tweets here.

Nancy Barnes - Editorial Director, NPR

Lee Bollinger - President, Columbia University

Katherine Boo - former staff writer for the New Yorker and current reporter for the Washington Post.

Neil Brown - former editor of left-leaning Tampa Bay Times. Now runs the Poynter Institute, a journalism school funded in part by George Soros's Open Society Foundation. One principal area of focus is "fact-checking technology." (Cue the irony.)

Nicole Carroll - Editor-in-chief of left-leaning USA Today

Steve Coll - Dean of Columbia Journalism School, the ever-flowing wellspring of liberal journalists.

Gail Collins - Editorial Board, New York Times (Does she get to vote on the Times' own Pulitzers?)

John Daniszewski - Editor at Large for "standards" at the Associated Press. Here's a quote from his bio: "John works with journalists and editors around the world to ensure the highest levels of media ethics and fairness." 

One wonders if these people have any self-awareness, any at all.

Steve Engelberg - Editor in chief of lefty online news organization ProPublica. Also won Pulitzers. Worked for NYT for 18 years.

Carolos Lozada - Washington Post book critic, author of "What Were We Thinking: A Brief Intellectual History of the Trump Era." Twitter feed: https://twitter.com/CarlosLozadaWP

Kelly Hernandez - Professor of African American Studies, UCLA. From her bio: "One of the nation’s leading experts on race, immigration, and mass incarceration." Believes we are "wasting money" on policing and incarceration. Watch her here: https://www.youtube.com/watch?v=a1kigeQAG6k.

Aminda Gonzalez: VP and Exec Editor, Simon & Schuster

Kevin Merida - Executive Editor, LA Times

Viet Thanh Nguyen -  Professor of English, American Studies and Ethnicity at USC.

Emily Ramshaw - CEO of The 19th, a feminist-oriented news service. Very concerned on Twitter about the shortage of female climate scientists.

David Remnick - Editor of the New Yorker, and author of, among other things, a hagiography of Barack Obama and a recent puff piece on AOC.

Tommie Shelby - Professor of African American Studies at Harvard. Recent speech title: "Afro-Analytical Marxism and the Problem of Race."

Pro tip moving forward: these awards are nothing more than trumped up self-congratulation inside an intellectually fatuous, vacuum-sealed bubble. To the average American, they mean nothing, and nor should they. Ignore them.

Now give me a damn beer.