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	<title>The Harvard Law School Forum on Corporate Governance</title>
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	<title>Proposed Legislation to Address the Problem of Woke Corporations &#8211; The Harvard Law School Forum on Corporate Governance</title>
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		<title>Proposed Legislation to Address the Problem of Woke Corporations</title>
		<link>https://corpgov.law.harvard.edu/2021/10/06/proposed-legislation-to-address-the-problem-of-woke-corporations/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=proposed-legislation-to-address-the-problem-of-woke-corporations</link>
		<comments>https://corpgov.law.harvard.edu/2021/10/06/proposed-legislation-to-address-the-problem-of-woke-corporations/#comments</comments>
		<pubDate>Wed, 06 Oct 2021 13:52:58 +0000</pubDate>
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		<description><![CDATA[The public support by large corporations for socially progressive ideologies, both in politics and business, has created a crisis of legitimacy for corporate America. By embracing the “woke” revolution that is politicizing nearly every area of Americans’ lives, corporate America has severely damaged its credibility with the rest of the country, and broken its relationship [&#8230;]]]></description>
				<content:encoded><![CDATA[<hgroup><em>Posted by Senator Marco Rubio (R-FL), on Wednesday, October 6, 2021 </em><div class='e_n' style='background:#F8F8F8;padding:10px;margin-top:5px;margin-bottom:10px;text-indent:2.5em;'><strong style='margin-left:-2.5em;'>Editor's Note: </strong> <p style="margin:0; display:inline;"><a href="https://www.rubio.senate.gov/public/">Marco Rubio</a> is U.S. Senator from Florida. This post is based on his proposed legislation before the United States Senate. <span style="font-size: 10pt;">Related research from the Program on Corporate Governance includes </span><a class="external" style="font-size: 10pt;" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3544978" target="_blank" rel="nofollow noopener">The Illusory Promise of Stakeholder Governance</a><span style="font-size: 10pt;"> (discussed on the Forum </span><a style="font-size: 10pt;" href="https://corpgov.law.harvard.edu/2020/03/02/the-illusory-promise-of-stakeholder-governance/">here</a><span style="font-size: 10pt;">) and </span><a class="external" style="font-size: 10pt;" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3899421" target="_blank" rel="nofollow noopener">Will Corporations Deliver Value to All Stakeholders?</a><span style="font-size: 10pt;">, both by Lucian A. Bebchuk and Roberto Tallarita; </span><a class="external" style="font-size: 10pt;" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3677155" target="_blank" rel="nofollow noopener">For Whom Corporate Leaders Bargain</a><span style="font-size: 10pt;"> by Lucian A. Bebchuk, Kobi Kastiel, and Roberto Tallarita (discussed on the Forum </span><a style="font-size: 10pt;" href="https://corpgov.law.harvard.edu/2020/08/25/for-whom-corporate-leaders-bargain/">here</a><span style="font-size: 10pt;">); and </span><a class="external" style="font-size: 10pt;" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3749654" target="_blank" rel="nofollow noopener">Restoration: The Role Stakeholder Governance Must Play in Recreating a Fair and Sustainable American Economy—A Reply to Professor Rock</a><span style="font-size: 10pt;"> by Leo E. Strine, Jr. (discussed on the Forum </span><a style="font-size: 10pt;" href="https://corpgov.law.harvard.edu/2021/01/07/restoration-the-role-stakeholder-governance-must-play-in-recreating-a-fair-and-sustainable-american-economy-a-reply-to-professor-rock/">here</a><span style="font-size: 10pt;">).</span></p>
</div></hgroup><p>The public support by large corporations for socially progressive ideologies, both in politics and business, has created a crisis of legitimacy for corporate America. By embracing the “woke” revolution that is politicizing nearly every area of Americans’ lives, corporate America has severely damaged its credibility with the rest of the country, and <a href="https://nypost.com/2021/04/25/corporations-that-undermine-american-values-dont-deserve-gop-support/">broken its relationship with conservatives</a> and <a href="https://www.republicanleader.senate.gov/newsroom/press-releases/mcconnell-corporations-shouldnt-fall-for-absurd-disinformation-on-voting-laws">the Republican Party</a>. This collapse of trust not only harms the health of our public life; it prevents large corporations from effectively serving the patriotic and necessary roles we need them to in order to advance the <a href="https://www.rubio.senate.gov/public/_cache/files/6d09ae19-8df3-4755-b301-795154a68c59/C58480B07D02452574C5DB8D603803EF.final---cua-speech-11.5.19.pdf">common good</a>. It is time to change course.</p>
<p>To everyday working Americans, the examples of corporations pushing the woke revolution in our society are so plentiful that it should hardly require further explanation. But because it may be difficult to observe from the inside, a reminder of that in this forum may be helpful. According to a recent <a href="https://americancompass.org/the-commons/woking-9-to-5/">survey by American Compass</a>, 63 percent of non-management workers want businesses to “focus on business and stay out of social justice issues” like “election reform, racial equity, and LGBTQ+ rights.” Among the workforce generally, those numbers went up to 66 percent of independents and 85 percent of Republicans. The greatest levels of support for companies taking a public stance on behalf of social justice were white, college-educated Democrats, at 77 percent.<br />
 <a href="https://corpgov.law.harvard.edu/2021/10/06/proposed-legislation-to-address-the-problem-of-woke-corporations/#more-140798" class="more-link"><span aria-label="Continue reading Proposed Legislation to Address the Problem of Woke Corporations">(more&hellip;)</span></a></p>
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