2021 and the rise of identity economics

While the dust has yet to settle on the appalling events of Jan. 6, when incendiary rhetoric incited outrageous behavior, the business fallout is already reverberating across the country. Five people died. Now comes the reckoning.

While many pundits and political leaders continue to equivocate, the response from industry has been swift and clear. Political salaciousness will no longer be tolerated and it’s going to have financial consequences. At the time of writing, Morgan Stanley, Marriott, Dow, AT&T, American Express, Coca-Cola, Facebook, Amazon, Verizon, Microsoft, Goldman Sachs, Blue Cross Blue Shield, JPMorgan Chase, Airbnb, and Comcast among other well-known businesses have publicly pulled political contributions in the wake of the attack—many specifically withdrawing support from any politician who objected to the certification of Electoral College votes or amplified lies about the legitimacy of the presidential election. Hallmark went so far as to ask for the return of its campaign contributions to objecting senators. Additionally, the PGA, Stripe, Shopify, and Deutsche Bank count among institutions who have quickly cut business ties with the Trump brand.