Rainbow Capitalism Does More Harm Than Good to LGBTQ Community | Opinion
American Civil Liberties Union, more than 500 state bills targeting the LGBTQ community have been introduced, with 75 of them becoming law in 2023.These laws, which range from restrictions on gender-affirming health care to limitations on LGBTQ representation in education, threaten to roll back the hard-won rights and protections that have been established over decades of advocacy.However, as right-wing circles stoke anti-LGBTQ sentiment, corporations have collectively decided to show their support and dedication to making the lives of LGBTQ individuals safer—by putting a rainbow on their logo.Facetiousness aside, corporate recognition of Pride Month—an annual celebration of the contributions and existence of the LGBTQ community—often contributes to a trend aptly named "rainbow capitalism."Rainbow capitalism involves companies selling LGBTQ-branded merchandise under the guise of support for the community, but with the true motivation of financial gain.
While it may seem cynical to think of these companies as purely acting upon the prospect of profits, recent product withdrawals from corporations under the threat of an "anti-woke" boycott should remind LGBTQ folk that companies do not see them as people, but as walking wallets.Corporations that operate under the banner of "progressivism" can, and will, flip the switch almost immediately, given sufficient backlash.
Pressure from critics will spur an entire reshaping of how they look at marginalized groups and how they expect marginalized groups to look at them.
The ostensibly innocuous support corporations offer during Pride month allows them to appear progressive while still pursuing their mandate of doing what is financially best for shareholders.At the start of 2020, when various states saw a surge in the number of lawmakers drafting anti-LGBTQ bills, companies were quick to sign on to a Human Rights Campaign petition to register their opposition.
