I’ve spent a fair amount of time on this blog criticizing corporate interests–Big Oil, the Kochs, all the mega-corporations evading taxes by any means arguably lawful, and others of that ilk. But a recent story reminded me that markets often exert powerful pressure for good, and not just because competition tends to drive down prices and make goods and services affordable. The vast majority of businesses operate in competitive markets that reward good behavior as well as low prices.
A good example is the fight for equal rights for GLBT citizens. Business has been in the forefront of that fight.
The link in the first paragraph is to an article about Chik-fil-A, which is furiously backpedaling from the anti-gay remarks made last year by its founder and CEO. While it would be nice if that retreat was the result of some sort of moral epiphany, the truth is that it has been forced by the realities of the market. (As one consultant recently wrote, “There are few more treacherous actions a CEO can take than to make derogatory comments about gay men and lesbians or to be publicly exposed for funding anti-gay causes.”)
Chick-fil-A’s socially conservative agenda, which formerly led the company to donate millions to charitable groups opposed to gay marriage, has been tempered. This, just as the company aims to quickly expand into Chicago, New York and Los Angeles. Southern hospitality must give way to urban reality as the 1,800 store chain moves to compete with big city success stories like McDonald’s, Panera Bread and Chipotle.
Homophobia, racism, anti-Semetism and the like are bad for business. That lesson has been learned by hundreds of thousands of entrepreneurs, middle-managers and HR folks–and along the way, many of them have become true believers in the value of valuing diversity. Their advocacy, in turn, has moved the entire culture in a more inclusive direction.
For every asshole who is buying politicians and squirreling profits away in the Cayman Islands, there are twenty companies genuinely making America a better place–by treating GLBT people fairly, by becoming more environmentally conscious, by adopting local schools or supporting civic and charitable causes.
We need to rein in the bad actors, but we also need to appreciate the good guys. Even the guys who are only being good because that’s what the market rewards.