Voodoo economics and made-up property rights are the next frontier of ESG

The seemingly never-ending contest for the worst idea in Washington is heating up. A leading contender for this year’s dubious distinction, the Securities and Exchange Commission’s “Natural Asset Company” proposal, would have established a new type of corporation with the express purpose of prohibiting economic activity from occurring on federal and state lands that the government would place under the company’s control.

Like many horrendous ideas, NACs were first conceived in Davos at the World Economic Forum. This elitist proposal would have monetized the air we breathe and water we drink, radically redefining our relationship with life’s basic essentials. After learning of this proposal, which was sent to an agency known for its lack of transparency, the public backlash was so intense that it was suddenly withdrawn.


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