Dean Andrew Abela outlined "woke capitalism" in the May issue of Legatus magazine.
"It's hard to avoid the 'wokeness' overrunning American business. 'Woke capitalism' is about businesses serving the politically correct ideology of the moment instead of serving customers, employees, and shareholders. It arose as a reaction against the mistaken belief that business is 'amoral' and so now attempts to re-moralize business, but it risks destroying free enterprise in doing so by making an equal and opposite error: it replaces 'business without ethics' with 'ethics without business.'
We need both: a return to a way of being where excellence is understood to include both effectiveness and ethics, simultaneously and inseparably. Call this 'human excellence,' and contrast it with what we might call 'machine excellence': the application of technology for gathering and processing quantitative information (which Pope Francis refers to as the 'technocratic paradigm' in Laudato Si, 109). Which is more important? We are getting steadily better at machine excellence, but what really make the difference between successful and failed businesses, organizations, and societies are habits of self-discipline, courage, generosity, creativity, and fairness — in other words, human excellence."
Read the full article, "Running an enterprise in ‘woke’ times."