Stakehoder Capitalism: The Trojan Horse Nobody Voted For

Things I've Been Thinking About · Sep 29, 2026 · 7m

Stakeholder capitalism begins with an appealing idea: corporations should consider employees, customers, communities, the environment, and society—not just shareholders.

But who decides what those broader responsibilities require?

In this episode, Jonathan Rodebaugh examines how stakeholder capitalism can expand corporate discretion beyond business and into social governance—and what happens when that power begins interacting with government.

From Operation Choke Point and government pressure on social-media platforms to lobbying, campaign finance, the Federal Reserve, and the growing…