It was in a speech before the Society for American Newspaper Editors that President Calvin Coolidge uttered the famous words:
After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world. I am strongly of the opinion that the great majority of people will always find these the moving impulses of our life.
It wasn’t an uncommon sentiment at the time. Booker T. Washington regarded commerce as the best solution to racism, as he announced in his famous Atlanta Compromise Speech.
During those early decades of the century, it would have been rare for any business leader to take a strong public position on social or political issues that didn’t bear directly on his business. But as Patrick Deneen argues well in “The Power Elite,” it has been many years since big business has stuck to commerce and left social and political issues alone. In that essay, which examines the Indiana RFRA controversy, Deneen claims that the support corporations give to the LGBT cause is a wise marketing decision. LGBT advocacy has become a fashionable social norm, and supporting it is nearly cost-free!
Added to that, twenty-first-century corporations have “a strong affinity with the lifestyles of those who are defined by mobility, ethical flexibility, liberalism (whether economic or social), a consumerist mentality in which choice is paramount, and a ‘progressive’ outlook in which rapid change and ‘creative destruction’ are the only certainties.” Rules about religious liberty only hamper the fluid boundlessness of free markets and the movement of capital.
One has to wonder, though, whether corporate activism in 2017 is still the wisdom it appeared to be in 2015. I say this because of the step Tim Cook of Apple took this month, of donating $1 million to the Southern Poverty Law Center. Cook added that the company would double-match employee contributions to the SPLC and other human rights groups.
Read more at First Things – https://www.firstthings.com/web-exclusives/2017/08/political-ceos