Home News Whole Foods CEO defends capitalism, says “Socialism has been tried 42 times in the last 100 years and 42 failures”

Whole Foods CEO defends capitalism, says “Socialism has been tried 42 times in the last 100 years and 42 failures”

by Paul Goldberg
Whole Foods CEO defends capitalism, says "Socialism has been tried 42 times in the last 100 years and 42 failures"

John Mackey, Whole Foods Market CEO defended capitalism and railed against socialism during a recent interview with the market-oriented American Enterprise Institute discussing his new book Conscious Leadership: Elevating Humanity Through Business. 

Mackey said capitalism will “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 specifically put blame on colleges and progressives for encouraging attacks on capitalism.

Mackey said “that’s why we’re seeing this move towards socialism because capitalism they see as inherently corrupt.”

“That is wrong,” he continued “capitalism is the greatest thing humanity’s ever done. We told a bad narrative, and we’ve let the enemies of business and the enemies of capitalism put out a narrative about us that’s wrong. It’s inaccurate.”

“Socialism has been tried 42 times in the last 100 years and 42 failures, it doesn’t work the wrong way. We have to keep capitalism, I would argue, we need conscious capitalism,” he added.

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