#155 The Persistence Of Memory (of bad ideas)

Global Policy Watch: Who&#8217;s Afraid Of Stakeholder Capitalism?<br/><br/>Insights on global issues of the day<br/><br/>-&#160;RSJ<br/><br/>Sometime in late 2019, Alan Jope, chief executive of Unilever, the global food and cosmetics giant, declared that brands without an evangelical purpose of contributing to society will soon face extinction. As the <a href="https://www.theguardian.com/business/2019/jul/25/unilever-warns-it-will-sell-off-brands-that-hurt-the-planet-or-society">Guardian</a><a href="https://www.theguardian.com/business/2019/jul/25/unilever-warns-it-will-sell-off-brands-that-hurt-the-planet-or-society"> reported</a> then:<br/><br/>Alan Jope, Unilever&#8217;s chief executive, said it was no longer enough for consumer goods companies to sell washing powders that make shirts whiter or shampoos that make hair shinier because consumers wanted to buy brands that have a &#8220;purpose&#8221; too.<br/><br/>&#8220;Can these brands figure out how to make society or the planet better in a way that lasts for decades?&#8221; said Jope, outlining the company&#8217;s thinking. Unilever is not working to a set timetable but Jope, <a href="https://www.theguardian.com/business/2019/jan/31/unilever-stockpiles-magnum-ice-cream-in-case-of-no-deal-brexit">who took over from Paul Polman in January,</a> said it was possible that a brand or even whole product category &#8220;is not going to be able to find its purpose&#8221;.<br/><br/>His comments raised the possibility of the company selling off profitable brands, potentially hurting the bottom line, but Jope said: &#8220;Principles are only principles if they cost you something.&#8221;<br/><br/>This looked good. I mean we all want businesses to have more social responsibility. Here was a CEO willing to take a long view of what&#8217;s good for society and let go of short-term gains. <br/><br/>How are things going for Alan Jope now? Well, here&#8217;s Nils Prately writing in the <a href="https://www.theguardian.com/business/nils-pratley-on-finance/2022/jan/11/time-for-u