Whole Foods CEO: Socialism means ‘trickle up poverty’ that ‘impoverishes everything’ – IOTW Report

Whole Foods CEO: Socialism means ‘trickle up poverty’ that ‘impoverishes everything’

Just The News:

Whole Foods founder and CEO John Mackey argues that socialism is a failed system that “impoverishes everything.”

Referring to the criticism of “trickle down economics,” Mackey said socialism means “trickle up poverty.”

“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,” he said during a discussion on Tuesday organized by the American Enterprise Institute. “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, I would argue, we need conscious capitalism.”

Mackey said businesses and corporations in a capitalist system are often misunderstood.

“Until we get this corrected, capitalism is always going to be disdained and criticized and attacked,” he said. “It’ll be attacked for its motivations, because its motivations are seen as somehow impure. Yes, of course, business has to make money. If a business doesn’t make money, it will fail, but that doesn’t mean that its purpose is to make money.”

Mackey, co-author of “Conscious Capitalism,” said a business should be thought of “in terms of its value-creation, for its customers, and all the jobs that it creates for its employees and the residual or tangential effects that happen when it trades with suppliers, who also trade for voluntary reasons — they’re benefitting and they’re prospering as a result.” He pointed out that Whole Foods currently has 100,000 employees. read more

16 Comments on Whole Foods CEO: Socialism means ‘trickle up poverty’ that ‘impoverishes everything’

  1. Hold on Mackey. Whole Foods and Doctor Evil’s Amazon are bed partners. Jeff Bezos now owns the Washington Post.

    You are a sell out to the drum majors of the corporatist/socialist indoctrination machine.

    Give me a break you phony fascist.

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  2. The Progressives are right. True communism has never been tried. The moment they have power all the doctrines of Marx are thrown out and it becomes a total dictatorship where the top men are billionaires and everybody else is a slave. It never fails.

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  3. SO you spend your billions electing progressives, pushing progressive causes and then you suddenly realize hey that socialism stuff might make me a pauper?

    BTW, I’m one who rarely asks for prayers, because I’m pretty private and don’t like to complain about personal life, but my husband has some medical issues going on right now and he could really use some extra prayers.

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  4. @Anonymous.. Bezo’s won’t fire this guy! I’m surprised he hasn’t come forward against Socialism! Bezo’s has everything to lose.. Under socialism he loses everything…

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