The dodgy data behind the DEI crusade

[Dashinka 24,479]

Probably could go in the Biden messing up thread, but DEI seems to be a separate topic.

 

The dodgy data behind the DEI crusade

 

DEI has been pitched to Americans as an effort to foster workplace harmony. But if a scathing new report is anything to go by, diversity, equity and inclusion (DEI) is nothing more than a cynical marketing ploy founded on corporate doublespeak. And the Biden administration has fallen for it.

 

An exposé published by the College Fix this week reveals that at least 51 federal agencies have justified their DEI policies by citing four studies by McKinsey and Company, an American consultancy firm. These glossy studies – ‘Diversity matters’, ‘Delivering through diversity’, ‘Diversity wins’ and ‘Diversity still matters’ – make the so-called business case for DEI. But critics are now eviscerating McKinsey’s research as shoddy, agenda-driven and riddled with weak data.

 

Take a new rule from the Department of Labor’s Employee Benefits Security Administration, enacted in January last year. This rule expands the application of environmental, social and governance (ESG) criteria – used to measure a company’s ‘social impact’ – to government pension funds. Essentially, this means retirement-fund managers now have to put ESG considerations at the heart of their investment decisions. Supposedly, this is because companies with a good ESG score will deliver the best returns. What research is this claim based on? You guessed it: two McKinsey studies that suggest ‘social responsibility’ is the golden ticket to productivity.

 

Economist Alex Edmans, professor of finance at the London Business School, has slammed the Department of Labor for clinging to McKinsey’s dubious work. He argues that the department had ‘already decided’ its preferred policies and ‘searches for any study that will support this idea, regardless of its quality’. ‘McKinsey is a consultancy, not a research organisation’, Edmans concludes. ‘The goal of its papers is marketing rather than scientific inquiry.’

 

https://www.spiked-online.com/2024/05/19/the-dodgy-data-behind-the-dei-crusade/

[TBoneTX 45,248]

Yes, perhaps DEI deserves a dedicated thread; we've mostly been mixing it in with the "universities" thread.