Big Government Is a Much Bigger Threat Than ESG

American Institute for Economic Research (AIER) senior research fellow Paul Mueller writes with AIER research fellow Thomas Savidge that “Pulling money from asset managers who put environmental, social, and governance goals over the interests of their clients is a good start.” On its face, this is difficult to argue with regardless of one’s ideology. There are thousands of asset managers offering all manner of investment approaches, including ones fully focused on returns, environmental goals, uncorrelated-to-market returns, and countless others. Those with funds should vote with their feet, which is how markets work.

Unfortunately, that’s not the full story.