Dr. Erik Davidson and Kevin Freeman share perspectives on the growing stakeholder capitalism trend and the economic risks ahead. Topics range from free markets, guaranteed government payments, mandated minimum wage, and NASDAQ-mandated board diversity. There is a proper role for the balance of government, but it appears to be going too far. Unfortunately, the woke version of stakeholder capitalism is happening now, and its economic impact will be devastating. Moral democratic capitalism is the real solution. Dr. Davidson is a finance professor at Baylor University specializing in behavioral finance and recently retired as chief investment officer at Wells Fargo.