The Long-Term Negative Effects of ESG Will Be Catastrophic

The article correctly identifies ESG as a socialistic concept. Socialism, and most of the Democratic economic conceptualizations, are far too simplistic. They violate the Einsteinian principle "Everything should be made as simple as possible, but not simpler." An economy is like a high-powered engine. One could argue that, since Hydrogen has more energy per unit volume than gasoline, then use H2 for your fuel. It doesn't work (they MythBusteres actually tried it).

One precept of Democratic economic philosophy is to tax and spend. Again, it doesn't work because an analysis of the top income tax rate versus [real] GDP shows that there is a sharp peak at 37%.

This, and other concepts by the Democratic Party, shows why they should never have governing power.

Not a good move.

I like the "Friedmann Doctrine". Perhaps companies and corporations may want to try and follow that instead of Klaus Scwab's economic views.