Business and politics are growing closer in America, with worrying consequences
When Americans notice business and politics mingling in other countries they often see it as a sign of institutional decay, crony capitalism or authoritarianism. Today the mixing of government and corporations is happening in America. Sometimes that is in pursuit of honourable causes, as in the protest of CEOs over new laws restricting voting in Georgia and other states. Sometimes it is visible in the statesman-CEO the latest manifesto from Jamie Dimon, boss of JPMorgan Chase, pronounces on military procurement and criminal justice among many other weighty concerns. Most broadly of all, it is reflected in how the Business Roundtable, a lobbying group, has extended the corporate remit to include serving all stakeholders, for the success of their firms, communities and country.
This newspaper strongly supports the protection of voting rights. We believe that companies operating in competitive markets advance social progress. Nonetheless, as classical liberals, we also believe that concentrations of power are dangerous. Businesspeople will always lobby for their own advantage, but the closer they get to the government, the more harm they threaten to both the economy and politics. [ … ]