The JUST Report: Why Trump’s Victory Makes Just Business Even More Important
Although the dust is still settling from this week’s historic election, two things are becoming apparent.
The first is that of all the factors that drove President Trump and the Republican party to such a decisive victory, the prioritization by Americans all around the country of their basic economic well-being was of overriding importance.
Our own survey work, reported here two weeks ago, hinted at this. Edison Researchprovides direct verification: voters who identified the economy as their primary concern chose Trump over Harris by 79% to 20%; 45% of voters said their family’s financial situation was worse today than four years ago, compared to 20% in 2020; and of these, 80% favored Trump.
The second is that if Americans’ faith in capitalism is to be restored, and a new “Golden Age of America” truly enters, the business community must play a larger role.
Not out of a sense of morality or political predilection. And not because of tightening regulatory or political risk – Republican control of the Senate and potentially the House makes this unlikely. But out of pure self-interest. Because the fact is that what we find most Americans want – investment in workers, good jobs, customer protections, stronger communities, a clean and safe environment, and pathways to prosperity that all people can access – serves as a template for business leadership that generates higher returns for shareholders, greater long-term value for companies, and enduring benefits for society overall.
This, in short, is the stakeholder capitalism model. Providing the incentives, the data, and the expertise to help companies along that path is what we do at JUST. In the next few years it will be a – perhaps the – defining issue for the country. If you are interested to work with us, or learn more about what we do, please reach out.
Be well,
Martin
QUOTE OF THE WEEK
Rather than just one point of view, we’re sharing how business leaders have reacted to Trump’s victory and what it means for corporate America going forward as reported by CNBC and Business Insider.
JUST AI
Fortune reveals that, on average, employees feel that 60% of CEOs are “digitally illiterate”, especially when it comes to AI in the workplace.
Amazon CEO Andy Jassy had to reassure investors that the company’s AI push will pay off after expenditures increased by 81% in the third quarter.
MUST Reads
The New York Times’ Wednesday edition of Dealbook breaks down what a Trump presidency may mean for business. Two toplines: businesses will likely face fewer regulatory pressures, and CEOs will likely be far more cautious when it comes to “speaking up” on social issues.
Reuters looks at how the stock market is reacting to the announcement, and what industries are seeing major boosts.
There was plenty more on the ballot across the nation besides the presidential race. NPR highlights which states chose to increase minimum wages or paid leave, and those whose voters rejected those measures. Related, WBUR reveals why Massachusetts voted against giving tipped workers a wage increase.
Just before the election, Boeing workers officially ended their strike, accepting a 38% pay increase.
Bloomberg analyzes a report by Bank of America examining the state of childcare in America. The good news? In some major cities, the average price is going down partially thanks to local investment, partially (unfortunately) from families seeking cheaper, lower-quality care.
Chart of the Week
In the wake of the election and constant concerns about the economy, we wanted to re-up this chart from our 2024 Americans’ Views on Business report, which shows that across demographics, a majority of Americans do not feel that capitalism is working for them. Explore more of the insights here.
