Washington Examiner Reports: When President Joe Biden attacked Georgia ’s Election Integrity Act of 2021 as “Jim Crow on steroids,” corporate America swiftly swung into action. Bank of America, BlackRock, CitiGroup, Coca-Cola, Delta, Facebook, Home Depot, Merck, and Microsoft all issued statements condemning Georgia 's law. Major League Baseball caved under this corporate pressure, even moving its All-Star Game from Atlanta to Denver in protest.

But of course, none of what Biden said about the bill was true. Wait times for voting went down in 2022 as a result of the reforms. Voters reported that they were exceedingly pleased with the new system, and literally 0% of black voters in Georgia told pollsters they had trouble voting.

So how did corporate America get this so wrong? Why did corporate America get so stupidly, blindly woke ? Economists Nicolai Foss of the Copenhagen Business School and Peter Klein of Baylor University think they have the answer: middle managers.

Foss and Klein first note that there is no evidence that executives or the broader public have suddenly signed on to the woke agenda. Nor is there any evidence that woke corporations outperform unwoke corporations. In fact, there is some evidence the opposite is true.