Supposedly the oldest magazine in continual publication, The Economist, published in London, has devoted its September 21-27, 2024, edition to America becoming less "woke." The magazine notes that the greatest decline in woke thinking has been among young people and those on the Left, apparently because it has become associated with the most strident activists, who tend to divide the world into victims and oppressors. The article goes on to discuss that wokeness is also in retreat in corporate America, even though it appeared there relatively recently. The DEI (diversity, equity and inclusion) concept still remains important to corporate America, however, although it peaked in the second quarter of 2021, but is still three times more common than before the death of George Floyd. The share of new job listings that mention diversity continues to grow, but the number of people employed in DEI is recently down over 10%. A part of the explanation is belt-tightening, while some suggest it springs from the Supreme Court ruling on affirmative action. Another possibility is that corporations are taking note of declining public enthusiasm for corporate social activism. Currently, less than half of the public think businesses should speak out on racial issues or LGBTQ rights, with the most dramatic example being that of Bud Light. Interestingly, the magazine concludes that it is much more likely that there will be a revival in woke activism on the Left if Mr. Trump wins the election, compared with Ms. Harris.
This article is part of our November 2024 Newsletter.
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