Home
/
RELIGION & LIBERTY ONLINE
/
Conscious Capitalism and the Higher Purpose of Business
Conscious Capitalism and the Higher Purpose of Business
Jul 18, 2025 8:00 PM

In 1978, John Mackey was 25-year-old college dropout who believed that democratic socialism was a more “just” economic system than democratic capitalism. But his views soon changed after he and his girlfriend borrowed $45,000 from family and friends to open a small vegetarian grocery store in Austin, Texas. Although he was only earning $200 a month from his struggling business, his friends on the left viewed him as a “capitalistic exploiter” who was overcharging his customers and exploiting his workers.

In a nutshell the economic system of democratic socialism was no longer intellectually satisfying to me and I began to look around for more robust theories which would better explain business, economics, and society. Somehow or another I stumbled on to the works of Mises, Hayek, and Friedman, and had plete revolution in my world view. The more I read, studied, and thought about economics and capitalism, the more I came to realize that capitalism had been misunderstood and unfairly attacked by the left. In fact, democratic capitalism remains by far the best way to organize society to create prosperity, growth, freedom, self-actualization, and even equality.

Mackey’s small store morphed into Whole Foods Market, which now has 345 stores and $4 billion in annual sales, but he’s still an advocate of free markets who believes that capitalism is misunderstood. In a recent speech Mackey claimed that, “capitalism has a serious branding problem . . . the recent recession was . . . blamed on greedy financial corporations, deregulation, and capitalism—market failures—rather than on bad government regulations and monetary policies—government failures.”

The truth, he says, is that “Capitalism is ending poverty on planet earth. The problem is not that there is an unequal distribution of wealth in the world. The problem is that there is an unequal distribution of capitalism.”

That’s a primary theme of Mackey’s new book, Conscious Capitalism. Rather than claiming that the primary role of business it to “make money” the Texas entrepreneur says free market advocates should point out that “Business is good because it creates value for many. It is ethical because it is based on voluntary exchange.”

“Business is the biggest value in the creator in the world,” said Mackey, “That is the purpose of business; business creates value . . . Business needs to shift from profit maximization to purpose maximization.”

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Counting the Profit of a Third Party Choice
Joe Carter recently highlighted the discussion at Ethika Politika, the journal of the Center for Morality in Public Life, about the value of (not) voting, particularly the suggestion by Andrew Haines that in some cases there is a moral duty not to vote. This morning I respond with an analysis of the consequences of not voting, ultimately arguing that one must not neglect to count the cost of abstaining to vote for any particular office. One issue, however, that I...
Stop Apologizing for Our Liberties
You cannot apologize to a fanatic, says Lee Harris. It only serves to convince him that he was right all along: The last few weeks have witnessed a peculiar and disturbing spectacle: An American administration that has spent a great deal of time and energy apologizing for our liberties—in particular, for what many would regard as the foundation of all our other liberties, namely, the freedom to express our minds as we see fit. This signature freedom, of which Americans...
Is it really ‘aid’ if it goes to relatively wealthy nations?
Alan Duncan, an aid minister in the UK, says his government is “forced” to hand over large amounts of money to the EU’s foreign aid budget, but has no say in how the money is spent. The problem is that much of the $2 billion+ “aid” money (one-sixth of the British budget) goes to projects such as making a Moroccan water park more eco-friendly, an art project in St. Petersburg, and building a hotel and plex in Barbados. Britain’s International...
Rev. Sirico on Life, Work, and Human Flourishing
J.Q. Tomanek of Ignitum Today interviewed Rev. Sirico about life, work, human flourishing, and his new book, Defending the Free Market: JQ Tomanek: Back in the day, holiness was misinterpreted as a cleric or religious life thing. How can a lay Catholic practice their faith? What are some ways to sanctify our work as lay Catholics? Is “ora et labora” just a monk thing? Reverend Sirico: Yes, religious people are often tempted to e so “heavenly minded they are no...
On Call with Dr. Pamela Casson
Dr. Pamela Casson, a pediatrician in Colorado Springs, knows what it means literally to be “On Call.” This week she shares with us in this video interview with Jon Hirst how she sees God working through her in her work with families, children and the world around her. Thank you Pamela for giving us an inside look at how you see your work as blessing the world. ...
Dodd-Frank: The Other Serious Threat
At least es at us head on. The greater legislative threat may be the one that most Americans have never heard of. Economist Scott Powell and Acton friend Jay Richards explain in a new piece in Barron’s: While Obamacare received more attention, the Wall Street Reform and Consumer Protection Act, also known as Dodd-Frank after its Senate and House sponsors, … unleashed a new regulatory body, the Consumer Financial Protection Bureau, to operate with unprecedented power. Dodd-Frank became law in...
Did 2,362 Millionaires Get Unemployment Checks in 2009? (Answer: Yes they did.)
The Congressional Research Service (CRS), a group that works exclusively for the U.S. Congress, issued a report with one of the greatest titles I’ve ever seen on a government document: Receipt of Unemployment Insurance by e Unemployed Workers (“Millionaires”) Now the first nine words are nothing special, typical policy-wonk speak. But whoever added in the word “millionaires” with scare quotes and parentheses is a genius. Most people would have been nodding off around the word “Insurance” but seeing millionaires (that’s...
How were people On Call in Culture 165 years ago?
What is so special about 1837? That was the year Abraham Kuyper was born. September 29th is his 165th birthday. So we thought we would go back to 1837 and see how people were being On Call in Culture back then. We don’t know if they were all believers on a mission to bless the world, but by seeing what was going on 165 years ago, we hope you are encouraged to engage your world in 2012! How did people...
Markets and culture: A time to play, a time to pray
Faced with the prospect of a professional athletic career, a nearly-half million dollar salary, and a perfect lady, what’s not to like? Apparently, for Grant Desme, it was the noise and unrest of the world. Can a culture of life and the noise and tumult of the marketplace co-exist? Rev. Robert Sirico, reflecting on this, says they can, so long as it is not a place where: [C]apitalism…places the human person at the mercy of blind economic forces…What we propose,...
Want to Help the Poor? Promote a Free Market in Health Care
Want to help the poor? Promote a free market in health care. That’s the argument made by John C. Goodman, author of the new book Priceless: Curing the Healthcare Crisis. Timothy Dalrymple recently talked with Goodman about the best approach for restoring free-market pricing mechanisms into the market for medical care and health insurance: Aren’t there some people, however, who have little of money and lots of time, and would prefer to wait in order to receive cheaper care? There...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved