Rainbow capitalism

Rainbow capitalism (also called pink capitalism, queer capitalism, homocapitalism or gay capitalism) is the involvement of capitalism, corporate capitalism, and consumerism in participating in, appropriating, and profiting from the LGBT movement. It developed in the 20th and 21st centuries as the LGBT community became more accepted in society and developed sufficient purchasing power to be a viable market, known as pink money. Early rainbow capitalism was limited to gay bars and gay bathhouses, though it had expanded to most industries in many Western countries by the early-21st century.

Capitalism incentivizes corporations to promote LGBT rights to increase worker satisfaction, expand their consumer base, and maintain a positive public image. A corporation may also support LGBT rights because its executives personally believe in the cause.

Marketing to the LGBT community has played a major role in promoting social acceptance of LGBT people, including increased LGBT representation in media and advertising, though it has also perpetuated stereotypes.

Certain aspects of rainbow capitalism enjoy broad public support in the United States. For example, 76% of LGBT Americans support corporate presence in Pride parades. However, rainbow capitalism has been criticized by both right-wing and left-wing activists, who believe that corporate support for LGBT rights goes too far or not far enough, respectively. Left-wing critics argue that many corporations will express nominal support for the LGBT community while also supporting anti-LGBT politicians. They also point out that LGBT people are often poorer than heterosexual people when adjusting for other factors and often have more difficulty finding and securing work, though increased protections for LGBT individuals work to counteract this in some countries. LGBT people are also disproportionately likely to be victims of gentrification.

The basic concepts of rainbow capitalism-- using support for LGBT causes to increase employee satisfaction, improve public image, and advance unrelated agendas-- have also been adopted by some governments. They may use LGBT rights to support their foreign policy, such as by exerting pressure on other countries to adopt LGBT protections. They may also justify punitive actions against enemies due to their poor track record on LGBT rights, or oppose immigration from these countries, claiming their residents will remain homophobic even after immigration and vote to repeal LGBT protections. As with corporations, governments may adopt these practices due to genuine belief, for cynical gain, or out of a combination of these factors.