Politics Matters Less and Less, Danish Pension Fund Giant Says
Denmark’s largest private pension fund isn’t that interested in politics anymore.
Allan Polack, chief executive officer of PFA, argues that lawmakers and political leaders are out of touch and that globalization has made their decisions less relevant to the business community.
“Politics and economics have decoupled a lot in recent years,” Polack said in a telephone interview in Copenhagen. “Politicians populate an insulated world of their own, while companies live in another sphere.”
In an era where a resurgence of populism and nationalism sends out alarm bells on a regular basis, the CEO’s analysis counters the traditional argument that markets are scrutinizing decision makers and constantly adjusting their positions accordingly.
“If you’re afraid of politics in one place you can just move production elsewhere,” Polack said of the benefits of globalization. “As long as politics doesn’t get out of hand and turn into military action, it will stay in its own sphere and not influence companies much.”
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