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The Futility of Investment Evangelism

City Journal
October 23, 2023
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Aswath Damodaran in City Journal reflects on the practice of “impact investing” – a trillion-dollar game of allocating investment dollars in ways that ostensibly benefit society. Though motivated by moralistic intentions, Damodaran notes that many of the true impacts are perverse and the practice essentially futile.

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A Spite That Knows No Bounds

Gratingly awful global scold Greta Thunberg’s latest stunt is to turn on her own motherland. Sweden has been very good to her, but the former social-democratic paradise’s mugging by the realities of uncontrolled immigration do not sit well with the keffiyeh-clad rabblerouser. “For years, Sweden took more asylum seekers per capita than any other country in Europe,” writes Fredrik Karrholm in The Spectator. “Now asylum numbers have fallen to their lowest level since 1985.”

And the 21st Century Belongs to…

Those looking forward to America’s collapse in the face of an ascendant China are likely to be disappointed, writes Victor Davis Hanson at The Blade of Perseus. Examining a range of revealing metrics, trends and recent events, Hanson pronounces the U.S. the true “crouching tiger, hidden dragon”. America can be “sluggish” and “naïve,” admits Hanson, “but historically, its innately resilient free people, singular constitutional government, robust federalism, and free-market economy eventually wake up to the next rising threat.”

Nourishing the Soul Through Sweat, Toil and Endurance

And rounding out our trio of good-news stories, Hélène de Lauzun reports in The European Conservative that, by one measure at least, Christian religiosity is flourishing. Several recent pilgrimages in France were packed with participants, including the Notre-Dame de Chrétienté journey from Paris to Chartres Cathedral, which drew more than 20,000. De Lauzun was especially struck at how the events moved complete strangers to come to one other’s aid to overcome hunger, thirst or exhaustion.

Racial Quotas by Algorithm

Allum Bokhari, writing in The American Conservative, illuminates a Colorado state bill claiming to create “a shield against ‘algorithmic discrimination’” that would force AI companies to generate outputs based on government-imposed racial, and other identity-based, quotas. As with past variants of reverse discrimination, asserts Bokhari, Colorado’s AI bill amounts to thinly disguised leftist ideology aimed at institutionalizing the very harm it claims to ameliorate.

A Spite That Knows No Bounds

Gratingly awful global scold Greta Thunberg’s latest stunt is to turn on her own motherland. Sweden has been very good to her, but the former social-democratic paradise’s mugging by the realities of uncontrolled immigration do not sit well with the keffiyeh-clad rabblerouser. “For years, Sweden took more asylum seekers per capita than any other country in Europe,” writes Fredrik Karrholm in The Spectator. “Now asylum numbers have fallen to their lowest level since 1985.”

And the 21st Century Belongs to…

Those looking forward to America’s collapse in the face of an ascendant China are likely to be disappointed, writes Victor Davis Hanson at The Blade of Perseus. Examining a range of revealing metrics, trends and recent events, Hanson pronounces the U.S. the true “crouching tiger, hidden dragon”. America can be “sluggish” and “naïve,” admits Hanson, “but historically, its innately resilient free people, singular constitutional government, robust federalism, and free-market economy eventually wake up to the next rising threat.”

Nourishing the Soul Through Sweat, Toil and Endurance

And rounding out our trio of good-news stories, Hélène de Lauzun reports in The European Conservative that, by one measure at least, Christian religiosity is flourishing. Several recent pilgrimages in France were packed with participants, including the Notre-Dame de Chrétienté journey from Paris to Chartres Cathedral, which drew more than 20,000. De Lauzun was especially struck at how the events moved complete strangers to come to one other’s aid to overcome hunger, thirst or exhaustion.

Racial Quotas by Algorithm

Allum Bokhari, writing in The American Conservative, illuminates a Colorado state bill claiming to create “a shield against ‘algorithmic discrimination’” that would force AI companies to generate outputs based on government-imposed racial, and other identity-based, quotas. As with past variants of reverse discrimination, asserts Bokhari, Colorado’s AI bill amounts to thinly disguised leftist ideology aimed at institutionalizing the very harm it claims to ameliorate.

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