Description:
In Ending ESG and Restoring the Economic Enlightenment, Sen. Phil Gramm and Terrence Keeley bring together a collection of insightful essays considering the many problems with ESG.
Brief description:
Phil
Gramm is a former chairman of the Senate Banking Committee and
a nonresident senior fellow at the American Enterprise Institute.
Review Quotes: "Keeley and Gramm have done us
all a great service with their persuasive work demonstrating that companies
serve the public good most effectively by maintaining focus on the
shareholders."
Doar, president, American Enterprise Institute "ESG's rise and its distorting
effects upon American capitalism are not isolated phenomena. In these essays
assembled by Phil Gramm and Terrence Keeley, we discover that ESG is
symptomatic of America's departure from the revolutionary insights of
the economic Enlightenment that began with Adam Smith. The good news is that
this knowledge gives America a path back to dynamism and prosperity, if we
have the will to make that choice." --Samuel
Gregg, Friedrich Hayek Chair in Economics and Economic History, American
Institute for Economic Research "In this compact volume,
Senator Phil Gramm and Terrence Keeley leave no doubt about the best path
forward for human flourishing: free markets complemented by targeted
philanthropy and thoughtful impact investment. They deserve to be heard." --Baroness
Philippa Stroud "Ending ESG--a collection of previously published articles prefaced
by a measured, clearly reasoned introduction by the book's editors, Senator
Phil Gramm and Terrence Keeley--is a forensic and highly critical examination of
ESG, a shoddily constructed, self-serving investment 'discipline' that has been
all too effectively marketed as a way of doing well by doing good. As the contributors--one of whom
has long, and directly relevant experience in the financial sector (and is not
unsympathetic to some of ESG's stated goals)--demonstrate, it has achieved
little of either. Moreover, Ending
ESG shows how ESG and the related ideology of stakeholder capitalism
operate as an attack on private property rights that have done so much to
foster America's remarkable economic success and how, not so coincidentally,
they could also undermine our democracy. So, what should be done in
response? Look no further than the title of this well-argued and necessary book
for the answer." --Andrew
Stuttaford, editor, National Review's
Capital Matters