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CEO says Capitalism gets a bad rap

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  • Democrat
    Lawrence, MA
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    Today's Globe reports on John Mackey, cochief of Whole Foods who says that , U.S. businesses are " under attack " from critics who unfairly malign capitalism......" If we allow it I have no doubt that capitalism will wipe out poverty and illiteracy.....humanity has been lifted up by business and yet it has been completely hijacked by its ememies who create a narrative that is selfish and greedy and exploitive." He also attacked Obama Care as " fascist". and said that "Hype over climate change....could stop virtually stop all economic progress."......I could get all over this like a starving dog on a pork chop, but I'll wait to see if garners any notice.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Thanks lefty for posting this. Googling Mackey and Whole Foods you'll find a bunch of interviews as he goes around the country promoting his book, Conscious Capitalism: Liberating the Heroic Spirit of Business.

    Looking at the Amazon customer reviews, there are a bunch of five star and a bunch of one star ratings of his books, which pretty well summarizes the divide in the American political environment now.

    I'll just copy one of the Amazon custormer "one star" reviews by J.Nord:

    "This man is not a conscious capitalist, and this book is nothing but a smokescreen, covering up his many abuses to help the public feel good about shopping at his stores. Mackey is renowned for union busting, firing workers for attempting to organize and for expressing their opinions to management. Most recently, he's been threatening to cut his workers hours so that he doesn't have to help provide them with health coverage, all the while taking in $760,000 a year while holding tens of millions of dollars in his own companies stock. (Really John, you can't afford to let your employees see a doctor?) This man, the business he runs, and this book, are doing nothing but selling an illusion -- he'll tell you he has a conscience, but if you look into his actual business practices (not just the ones he promotes in the book, but all of them), you'll see another man who cares about nothing but money, who has found a niche where he can rip off the unsuspecting public."

    I think it echos many of your comments.

    I have shopped at Whole Foods, but across the street is a Natural Foods store. I have a choice.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    "Why budget deficits drive private profit" by Bill Mitchell
    http://bilbo.economicoutlook.net/blog/?p=12003

    The most horrible paradox in the world today is that it is the Capitalists that are the greatest threat to Capitalism. They don't need any help in destroying Capitalism.

    1.) There's the tendency for capitalists to commit fraud, which if successful will drive out honest business, and for rent seekers to carve out monopolies (often by corrupting public policy) that destroy competitive markets.

    2.) It is CEOs, like Mackey, who are the most voracious voices in calling for government deficit reduction. Government deficit=non government surplus. Government debt is the US dollar equity of the non government.

    "In truth, the economy and profits are entirely dependent on the federal budget deficit, without which not only would expansion be impossible, but the economy itself could not for long function at all."-Robert C. King
  • Liberal
    Independent
    Durham, NH
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    This phony scum bag represents the worst of the worst. His company sucks as much as he does. If you shop there you are nuts!

    I've watched him on TV promoting his book and he is nothing more than a vicious, anti-union, thief as far as I'm concerned!
  • Democrat
    Lawrence, MA
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    When you look at the misery, disease and slaughter capitalism has spread across the earth there is no " rap" strong enough to describe it. This head of Whole Foods is either severley mentally challenged or he knows what he's saying is bull dung, and figures the American public has now been softened up to a point in our history where we'll believe anything the ruling economic class tells us.....The problem is that the majority....the workers.... have no official organ to challenge this nonsense.
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    Now be honest. Have you ever met a CEO you liked? They all seem to be a bit sociopathic. And you just smile and be thankful you escaped unharmed.
  • Democrat
    Meridian, MS
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    Whole Foods huh? I would tell him which "hole" he reminds me of.
  • Democrat
    Lawrence, MA
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    Mackey was interviewed on the Book Channel last evening. His claims for capitalism are even more astounding live than they are in print.