Libertarianism(s) versus Postmodernism and 'Social Justice' Ideology

Abstract

This Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed, was given at the Austrian Economics Research Conference at the Mises Institute on March 22, 2019. Coined by Ross Douthat of the _New York Times_, woke capitalism refers to a burgeoning wave of companies that apparently have become advocates of social justice. The newly "woke" corporations now support activist groups and social movements, while adding their voices to political debates. How can we understand woke capitalism, is it effective, and if so, why? Analyzing woke capitalism tells us a great deal about contemporary corporate capitalism, the contemporary political left, and the relationship between the two. It also recalls an earlier corporate leftism. It does not consist merely of rhetorical placebos, symbolic over economic concessions, or even the mere placating of liberal political elites. Woke capitalism or corporate leftism actually represents the corporate interests of the would-be monopolist, the corporate socialist, and the corporate leftist in general.