Ep. 305 Exploring the Dark Side of Business, Profit, and History (in Nazi Germany)
How often do we think about the history of a product, brand, or business? In my opinion, people should stop and think highly critically and reflectively.
In this important episode, I had the honor of speaking with author and journalist David De Jong about his book «Nazi Billionaires: The Dark History of Germany’s Wealthiest Dynasties.»
Barron’s mentioned in the article How Long Does It Take to Forgive a Company? How is this topic intrinsically related to ESG: if a company has been complicit in some of history’s greatest crimes, would such investors recommend buying its shares, even long after the crime was committed? Aside from cheating Jews out of their insurance policies, Allianz’s Nazi-era director general, Kurt Schmitt, was the Third Reich’s economics minister. Thus, still, there are people who want nothing to do with Allianz. Yet, since it is one of the world’s largest insurers, it would’ve been a profitable investment after World War II.
We discussed the past, present, and future of the dark side of business, profit, and history. This topic shines a critical light on the contemporary issues of CSR and ESG.
The book is available in English, German, Hebrew, Spanish, and Portuguese, among other languages.
For related reading: Allianz Statement «Allianz in the Nazi-era» https://www.allianz.com/en/about-us/who-we-are/history/allianz-in-the-nazi-era.html
How Long Does It Take to Forgive a Company? Via Barron’s https://www.barrons.com/amp/articles/how-long-does-it-take-to-forgive-a-company-51546626425