{"product_id":"ending-esg-and-restoring-the-economic-enlightenment-9780844750736","title":"Ending ESG and Restoring the Economic Enlightenment","description":"\u003cp class=\"MsoNormal\"\u003eThe 18th-century Enlightenment liberated mind, soul, and\nproperty. It established the world-changing principle that labor and capital\nare private property, unleashing unprecedented explosions in work, thrift, and innovation\nthat lifted millions of people out of abject poverty. \u003c\/p\u003e\n\n\u003cp class=\"MsoNormal\"\u003eBut the modern-day phenomenon known as environmental,\nsocial, and governance (ESG) investing threatens that prosperity.\u003c\/p\u003e\n\n\u003cp class=\"MsoNormal\"\u003eThe implicit promise of ESG investing is that you can do\nwell and do good at the same time. Investors presume they can make a market\nreturn while lowering carbon emissions or reducing income inequality. However,\nthis seemingly noble pursuit does more harm than good.\u003c\/p\u003e\n\n\u003cp class=\"MsoNormal\"\u003eIn \u003ci\u003eEnding ESG and\nRestoring the Economic Enlightenment\u003c\/i\u003e, Sen. Phil Gramm and Terrence Keeley\nbring together a collection of insightful essays considering the many problems\nwith ESG. The authors draw parallels between pre-Enlightenment practices and\nESG’s mistaken attempt to enrich society by extracting rents from workers,\nconsumers, and capital owners. They explain the inefficiencies of ESG\ninvesting, the flaws of ESG rating methodologies, and the conflict between ESG\nand fiduciary standards. They also show how impact investing is a viable\nalternative for those who genuinely want their capital to do well and do good.\u003c\/p\u003e\n\n\u003cp class=\"MsoNormal\"\u003eFeaturing the writing of Mike Edleson, Alex Edmans, Hester\nPeirce, Andy Puzder, and Mike Solon, this insightful volume illustrates why ESG\nis so ineffective and ultimately dangerous. ESG, at its root, is a return to\nthe pre-Enlightenment world, where a self-chosen elite use nondemocratic means\nto extract the rewards that come from the sweat of the workers’ brows and the\nsacrifice of their thrift. We have seen this drama play out many times before. The\nsooner we end the ESG experiment, the sooner we can restore the principles that\nhave always allowed humanity to flourish.\u003c\/p\u003e","brand":"Phil Gramm","offers":[{"title":"Default Title","offer_id":48203798708475,"sku":"9780844750736","price":13.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0779\/3917\/9771\/files\/CoreSourceHub_cceb0507-d696-47ec-8219-65f3feb81343.jpg?v=1770708205","url":"https:\/\/indiepubs.com\/products\/ending-esg-and-restoring-the-economic-enlightenment-9780844750736","provider":"IndiePubs","version":"1.0","type":"link"}