Posted on 11/27/2020 11:01:09 AM PST by E. Pluribus Unum
Whole Foods founder and CEO John Mackey told the American Enterprise Institute in a livestreamed interview on Tuesday that socialism is a failed system that “impoverishes everything” and characterized it as “trickle-up poverty.”
Mackey, who co-authored the book “Conscious Capitalism,” said that “socialism has been tried 42 times in the last 100 years, and 42 failures. It doesn’t work, it’s the wrong way. We have to keep capitalism.”
While acknowledging criticisms of capitalism as a mechanism that sometimes can be captured by special interests, be overly materialistic, and appear indifferent to the plight of those who don’t succeed, he said the alternative of socialism is far worse.
“It needs to evolve,” he said of the current state of capitalism, adding, “otherwise the socialists are going to take over—that’s how I see it, and that’s the path of poverty.”
“They talk about trickle-down wealth,” he said of a key argument made by advocates of a free-market arrangement that establishes incentives that lead to better outcomes for everyone, adding, “but socialism is trickle up poverty. It just impoverishes everything.”
He argued for the adoption of what he called “conscious capitalism,” which he defined as capitalism that takes into account “higher purpose, human flourishing, and [is] done in a very conscious way.”
Mackey added that “we have to recognize that some of the progressive insights are important and they shouldn’t go away, but we can’t throw out capitalism and replace it with socialism, that will be a disaster.”
In a separate interview on the Joe Rogan podcast, Mackey acknowledged that under capitalism there can be unfavorable “externalities,” such as environmental pollution, but argued that these are not a hallmark of capitalism, which he said has actually allowed for innovation to fix such problems.
(Excerpt) Read more at theepochtimes.com ...
His boss Jeff Bezos won’t like that.
so did he vote for Biden?
ICBW! Doesn’t beezoos own ‘holefoods’?
It’s interesting...The way some people talk,they make it sound like dems really want to help people....THE DEMS KNOW IT’S GOING TO RUIN US...THEY ARE DOING THIS ON PURPOSE....
But it’s funny how the poverty never quite trickles to the very top.
It isn’t trickle up.
It’s tsunami up.
Markey sold his company to Bezos. It's too late for Jeff to dicatate political views to Ed. That's not in the earn-out clause. Sorry Bezos.
Boycott!
Funny considering who his clientele are.
Ah, comes to mind the famous quote by Einstein, I believe was: “Insanity is doing the same thing, over and over again, but expecting different results.”
But then again, we all know that liberalism is a mental disease.
Someone gets it.
Poor people can’t afford to shop at Whole Foods...
Mackey is still on the Board and he gives interviews like he’s still involved with Whole Foods.
I can’t seem to find any information on exactly “how much” influence he still has though.
couple it with green new deal and you have MASSIVE suffering, poverty and death.
I was thinking that myself. I don’t think I’m ‘poor’, but if I shopped there routinely, poverty would certainly begin to trickle through my life...
Unfortunately he is right on the money. Prosperity always has a trickle down effect, as the ones with the money most always provide jobs for he ones less privileged but not the other way around.
Without capitalism, there won’t be anything for them to put on the shelves
Funny story, so last yr Im at Whole Foods with my Mom here in LA, at checkout we see this woman using an EBT card to purchase groceries..just for funzies, I watched to see what kind of car she got into, it was a mercedes benz e class, very nice car
I agree.
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