Using One’s Influence Responsibly
Far too many people believe that they’re more or less going to have to swallow a lot of their ethical convictions if they’re going to become investors. The stereotypes about wealthy people run deep in American culture. One of the most pervasive stereotypes is that wealthy people are all deeply conservative. Many people are interested in drawing a false dichotomy between impoverished activists and the wealthy individuals who are allegedly standing in their way. The reality that wealthy people can be the allies of activists from many different economic backgrounds is the sort of truth that the media often likes to deny.
A lot of companies rely on their shareholders. They need to have some financial backing, and the management wants to avoid risking any of their own assets. The shareholders provide them with the sorts of safety nets that they never would have otherwise, and the members of the management are willing to listen to their shareholders. Shareholders can accomplish a lot with their power.
People who are capable of investing in the first place can use their influence in order to invest responsibly. There are plenty of ethical businesses that are trying to get off the ground, but they are going to be competing with the larger, established businesses that may or may not be using ethical business practices. Ethical investors can help them accomplish that. In the process, they will manage to defeat businesses that have detrimental business practices. They will accomplish different goals at once, which is an efficient form of activism. Ethical investments can manage to change entire marketplaces in many different ways, which is why investors ought to use their power more often.