A Quote by John Mackey
Whole Foods Market tries to embody all of the principles of conscious capitalism all the time, but like any person or company, we sometimes fall short.
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More than once in the history of Whole Foods Market, the company was unable to collectively evolve until I myself was able to evolve - in other words, I was holding the company back. My personal growth enabled the company to evolve.
We knew it was going to be a market, and we knew it was a food market. Well, what kind of food market? It's kind of natural foods, kind of organic foods. So, we eventually settled on Whole Foods Market.
Our allegiance is to the principles always, and not to the persons. Persons are but the embodiments, the illustrations of the principles. If the principles are there, the persons will come by the thousands and millions. If the principle is safe, persons like Buddha will be born by the hundreds and thousands. But if the principle is lost and forgotten and the whole of national life tries to cling round a so-called historical person, woe unto that religion, danger unto that religion!
We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
From the time I first understood economic principles, I was always concerned also that any system be operated on an efficient basis, which meant decentralization because knowledge is not concentrated anywhere. It's based on motivation, and so these are the advantages of, say, the cautious case for capitalism, that the market system is efficient.
There's a real difference between venture capitalism and vulture capitalism. Venture capitalism we like. Vulture capitalism, no. And the fact of the matter is that he's going to have to face up to this at some time or another, and South Carolina is as good a place to draw that line in the sand as any.
Ignorance, as well as disapproval for the natural restraints placed on market excesses that capitalism and sound markets impose, cause our present leaders to reject capitalism and blame it for all the problems we face. If this fallacy is not corrected and capitalism is even further undermined, the prosperity that the free market generates will be destroyed.
We've now become conscious of the uncalculated social, economic, and environmental costs of that kind of "unconscious" capitalism. And many are beginning to practice a form of "conscious capitalism," which involves integrity and higher standards, and in which companies are responsible not just to shareholders, but also to employees, consumers, suppliers, and communities. Some call it "stakeholder capitalism."
Homemade gazpacho tastes different than any gazpacho you can buy because you know exactly how much time it took for each plant to mature. That's why I would encourage buying at a farmers' market or at Whole Foods, because it comes straight from the source to your table.
I'm a guy who tries to be successful in all that I do, and when you fall short, it hurts.
Capitalism and the market are presented as synonymous, but they are not. Capitalism is both the enemy of the market and democracy.
The challenge here is to design a system where market incentives, including profits and recognition, drive those principles to do more for the poor. I like to call this idea creative capitalism, an approach where governments, businesses, and nonprofits work together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world's inequities.
If anybody ever needs to find me, I'm in the Glendale Whole Foods. I think it's the greatest Whole Foods on the planet. There are a bunch around the country, but this one seems like it has everything. Plus, everyone is super cool, the flow is fantastic, and it's in my hood.
A short time ago the demagogues blamed capitalism for the poverty of the masses. Today they rather blame capitalism for the "affluence" that it bestows upon the common man.
Despite the miracles of capitalism, it doesn't do well in popularity polls. One of the reasons is that capitalism is always evaluated against the non-existent, non-realizable utopias of socialism or communism. Any earthly system, when compared to a Utopia, will pale in comparison. But for the ordinary person, capitalism, with all of its warts, is superior to any system yet devised to deal with our everyday needs and desires.
Small-company stocks, like any asset class, can get picked over from time to time, but there are fundamental reasons why diligently mining them with an eye for unrecognised value can get market-beating returns.
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