Whole Foods' John Mackey: Why Intellectuals Hate Capitalism
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- Опубликовано: 7 фев 2025
- "Intellectuals have always disdained commerce" says Whole Foods Market co-founder John Mackey. They "have always sided...with the aristocrats to maintain a society where the businesspeople were kind of kept down."
More than any other outlet, Whole Foods has reconfigured what and how America eats and the chain's commitment to high-quality meats, produce, cheeses, and wines is legendary. Since opening his first store in Austin, Texas in 1980, Mackey now oversees operations around the globe and continues to set the pace for what's expected in organic and sustainably raised and harvested food.
Because of Whole Foods' trendy customer base and because Mackey is himself a vegan and champions collaboration between management and workers, it's easy to mistake Mackey for a progressive left-winger. Indeed, an early version of Jonah Goldberg's best-selling 2008 book Liberal Fascism even bore the subtitle "The Totalitarian Temptation from Mussolini to Hillary Clinton and The Totalitarian Temptation from Hegel to Whole Foods."
Yet nothing could be further from the truth-and more distorting of the radical vision of capitalism at the heart of Mackey's thought. A high-profile critic of the minimum wage, Obamacare, and the regulatory state, Mackey believes that free markets are the best way not only to raise living standards but also to explore new ways of building community and creating meaning for individuals and society. At the same time, he challenges all sorts of libertarian dogma, including the notion that publicly traded companies should always seek to exclusively maximize shareholder value. Conscious Capitalism, the book he co-authored with Rajendra Sisodia, lays out a detailed case for Mackey's vision of a post-industrial capitalism that addresses spiritual desire as much as physial need.
Reason TV’s Nick Gillespie talked with Mackey earlier this summer at FreedomFest, where among other things, Mackey debated billionaire Peter Thiel on the role of monopoly and competition in business.
Runs about 16 minutes.
Produced by Todd Krainin. Cameras by Zach Weissmueller and Paul Detrick.
Scroll below for downloadable versions. Subscribe to Reason TV's RUclips channel to receive notifications when new material goes live.
Go to reason.com/reas... for downloadable versions and a full transcript of the interview.
Go here to read a 2005 Reason debate about the social responsibility of business featuring Mackey, Milton Friedman, and Cypress Semiconductor CEO T.J. Rodgers: reason.com/arch...
"They weren't necessarily advocates of the free market, they were advocates of their own advancement" perfectly describes these new tech giants, Microsoft, Facebook, Google, Twitter etc.
That's the magic of the free market - voluntary exchanges in capitalism are win-win, so one advances the market/economy by simply advancing one's own self-interest, that is, until one gets to be so huge in the market that one can then buy the politicos and get in bed with them through exchange of favors (minimum wages,regulatory capture, etc., that crushes smaller competition), that's when monopolistic corporations become an extent of government, i.e. socialism.
That describes literally every corporation, being an advocate of the free market is just a way of being an advocate of yourself lol
@@trenttrip6205 Yes, that's the magic of the free market, that by advocating for oneself one contributes to the whole economy and prosperity of the country. The difference between the giants and the rest is that when the free market is shackled by force, the small businesses suffer and die, while the huge corporations just become an extent of government, protected by their compulsory (i.e. backed by violence) edicts.
@@trenttrip6205 You missed the point. What was the aim of their advancement? It wasn't for free market goals, it was for the advancement of their leftist ideals. We know this for certain now.
@@stevet5379 right, but as research shows, big corporations, even the ones supposedly in favor of the free market, advocate for massive government intervention in the economy all the time, just never to benefit poor people. Most multinationals benefit greatly from the state, the idea of rich people as crusaders for Laissez Faire principles is largely a ruse, just look at Wall Street, which has been around 100 years longer than these tech firms, literally trying to put the economy on pause to save themselves from losing money on GameStop, rich, powerful people want the government to keep its hands off the market insofar as to protect the poor, but when the shit hits the fan the first thing they do is have big brother set everything right, there are numerous examples
He says: "Intellectuals have always disdained commerce."
You must understand that there is a huge difference between intelligent people and people who desire to be viewed as "intellectuals." Indeed, PractitionersOfIntellectualism are a motley crew steeped in every wrong imaginable.
Adam Smith was an intellectual.
My dog is an intellectual.
@@cobbler1111 sure is compared to you
Don't get me started about your poor sentence structure and lack of punctuation.
Signed,
TheDog
@@cobbler1111 go ahead. It's not my native language, it actually is second. I can speak some german and spanish too. So yeah. Go read a book.
Whoever gave him that haircut was overpaid, that's for sure.
He's trying to show you what haircuts would be like under communism. Brilliant.
He's balding that's why
Probably got it cut at the barber college , by students !
@@alfredhitchcock45 wow wow wow
The interviewers hair is also challenging my sensibilities.
In a capitalistic society, intellectuals are “not seen as more important; and that drives them crazy.” There’s your answer, people!
So true I’d say pseudo intellectuals, we all know if they had any useful skills they’d be profiting from it.
that's bs xD
maybe they dislike Capitalism because it enables the rich to stay rich and suppress the rest of societey, but that's just for your consideration.
Been looking for this answer for a while
Exactly! And imagine working years do your degree increasing your education ans achieving a highly salary only for some guy to make more that that mowing lawns, washing driveways, or detailing cars. Intellectuals attach their education to their financial outcome. And spending all those years in college just to earn what they earn may seem insulting to them when a dude with a pick up truck can make as much or more
@@lestrike2707 No it doesn't, I benefited greatly because America is a capitalist society. What you're describing is crony capitalism. And specifically the government.
Regulations used to be about protecting people from corporations. THEY DON'T DO THAT ANYMORE! Regulations are put in place to prevent or throttle down competition. Goverent regulations affect the little guy not the big companies.
Here's a few examples
In some cities they issue medallions for taxis. They are very expensive, they cost 1000s of dollars. It is supposed to let the customer know that the taxi driver is trusted. That's is BS. Medallions were put in place by the political friends of people who own taxi businesses. If they didn't people qould just go to the airport, hold up a sign and they are in business.
Pharmaceutical is a big one too, government is heavily involved. This creates expensive meds because there is no comp. Meaning there is no incentive to improve. And because of regulations the price of medication is passed onto the consumer.
In parts of Kentucky can't start a moving company. Because the other moving companies got together and lobbied politicians.
The market economy is not perfect, but politicians and government will ruin it just to line their own pockets.
Despite government working against its people. It's still easy to become wealthy in this country, but it just takes a lot of hard work, blood and sweat. I used to work 16 hours a day everyday for 2 years, making no money.
You just have to provide as much value as you can to people. And you'll be able to enrich yourself.
I used to think that business man we're greedy ass holes who only cared about making money and we're inherently unfair. Then my brother and I opened our own business, and my eyes were opened wide. The city, state, and feds always have their hand out. They are often times arbitrary and capricious in their decisions of routine regulations.
True. I recommend everyone try to start a business.
I think that is a really common path. When I was in my teens & 20's I thought most issues that society faced could be solved by government intervention. As I've gotten older and now run my own business I've come to the conclusion that power corrupts organizations. The more power they are given to fix a problem, the more they become corrupted and uninterested in actually fixing the problem.
Reagan was right
Yup, government agencies are merely for-profit enterprises masquerading as public defenders. The DMV is a great example. I have to pay to renew my drivers license to drive every few years why? Because I forget how to drive?
10 years ago, my daily routine was 2 bottles of vodka. i started my own business part time selling target clearance on ebay, and now it's my full time income. i have product that i will throw away, because i can't afford to sell it cheaply. taxes, ebay fees, shipping, consume can easily consume over 100% of purchase price for items priced under $20. doesn't stop people from making offers less than the price of shipping. there's a reason ebay stock is $50, and amazon stock is $3000.
The economy is so good where I live right now that McDonalds can't hire people for less than 10.00 an hour. The minimum wage is 7.50. Capitalism works. Labor is in short supply. Demand is high. If a business wants workers they have to raise wages to be competitive. Get the govt out and let the market handle things.
You admitted you only mentioned one side of the argument. When jobs are extremely scarce, for goddamn sure they are paying next to nothing. This guy has been rich too long if he thinks it's always a "voluntary transaction". I suspect you are too young to have experienced any really hard times to see exactly what businesses do. Trust me, they don't give a fuck.
@@jasondashney I'm 36 take me on and I will turn you inside out c'mon old man. Capitalism is great: your turn.
@@jasondashney If labour is in high supply that isn't the fault of businesses. If I have 20 people going for one job why would I pay one $10/hour if some are willing to do it for as low as $4 or $5? If anything the worker willing to do the job for the smallest price is probably the one who needs the money the most. The same way people willing to pay the highest price for something are the ones who need it most.
That is far more humane than government setting an arbitrary higher rate. The employer will just end up employing randomly from the 20 people, rather than the one who might actually need the job the most.
If I don't work, I don't eat. That is a voluntary decision. Whether you think it is or not.
@@jasondashney I'm curious, was the comment you replied to deleted? I can't tell if it was meant for the original poster or not lol. Thanks in advance
@@jasondashney Choosing to shop at WHOLE FOODS is definitely a voluntary transaction. You know how many cheaper food stores there are?
I am an intellectual and I LOVE capitalism. People who claim to be intellectuals and hate capitalism are in fact ignorant of history.
Crazy,isn't it.
Maybe you don't have a body.
I am an intellectual and I HATE capitalism. People who claim to be intellectuals and LOVE capitalism are in fact ignorant of history.
they're either elitists or they aren't really intellectuals.
I've read actual studies that showed this in reality. Professors actually favoured inequality of pay when the field came to measuring merit by degrees and "intellectualism" in favour of other skills. I wish I could remember them. I'll have to look it up again.
If you can find them. Please post here. I'd like to read that as well.
@@nateofthesouth Same
We’re they socialist professors?
Every single school system. If you go get a doctorate as a high school teacher it does less than nothing for students but it increases pay dramatically. However, if you innovate and are energetic and engaging in the classroom that earns you nothing.
People who generate money like him and intellectuals need each other. Intellectuals realize that but he does not. The intellectuals' contributions to the economy are undervalued where his are overvalued. That is the problem and he is just spewing a bunch of BS because the "Intellectual Club" is the one club he could never buy or fake his way into.
Q: What is the difference, if any, between an engineer and an intellectual?
A: The engineer is responsible for their creations, the intellectual is not.
“There are some ideas so absurd that only an intellectual could believe them.”
Sowell?
Like abolishing the minimum wage?
@@theprophet9428 intellectuals believe in abolishing the minimum wage?
And some ideas are so stupid only a PhD could have come up with it ;)
@@regulardude7961 huh? Being against intellectualism and against the scientific method are 2 completely DIFF things.
This is one of the most sane discussions I've seen in a while.
How about a interview with the Costco CEO?
Really? I think that guy is a ticking time bomb. Detached from reality.
So in short, hate of capitalism is just envy in disguise.
Of couse. And Marxism/Communism/Socialism are the philosophies of hatred born of envy with a heavy dose of the unfounded faith that people will evolve to make M/C/S the success the intellectuals promise. IMO the various welfare programs of Western Societies are unequivocal proof that people will devolve rather than evolve.
That's *EXACTLY* what it is.
* points gun * always has been.
No it's not. Shut up. Capitalism sucks
To quote Milton Friedman "Minimum wage laws make it illegal to hire someone with limited skills."
"A claim for Equality of material position can be met only by a government with totalitarian powers". ~ Fredrick A. Hayek
Socialists literally think you should be able to afford your own apartment with expendable income to spare if you flip burgers. And then if companies automate out their workforce because they can't afford as many employees they want to hit them with even more taxes. They're insane.
M.W. makes it ILLEGAL for companies to create jobs below an ARBITRARY number. SO, companies are forced to go to other countries IF the company want to keep doors open.
@@NateO123 flipping burgers = homelessness and extreme poverty... gotcha. If you hate minimum wage workers so much, then flip your own burgers lol
@@noahmarosok8168 making a living flipping burgers is like making your living running a lemonade stand or delivering papers, these are entry level jobs made for kids of various ages, they are meant to be a stepping stone to a higher paid career.
if i go to mcdonalds after 3 pm, i expect to be served by 16 year olds working after school. not a 30 year old.
and yeah, it's fine if you have had some major setback and need to work minimum wage to get some money to get back on your feet, but you shouldn't be trying to live off it, you should feel the same as a grown man running a lemonade stand.
My father was a liberation before I was able to grasp what that was...
He always told us girls before he passed away, there is NO such thing as a free lunch... That's always stuck with me.
I'm not sure that you grasp what a "liberation" is even now...you have my permission to shoplift a dictionary.
The Capitalist asks, "If you're so smart, how come you aren't rich?"
The intellectual asks, "If you're so rich, how come you aren't smart?"
The catch here, of course, is that capitalists are smart - about money and economics. These so-called intellectuals don't seem to understand a thing about money, though they love touting their knowledge of literally everything else.
I was thinking something similar. Almost universally every socialist I have spoken with online is more of a pseudo-intellectual who thinks their shitty ideas are far better than they generally are. Anything beyond surface level thinking about the shit they tout it becomes rather easy to expose the cracks and show the flaws in their logic yet in their minds its the most solid idea ever. Sure, Egalitarian society sounds awesome, socialism sounds great, hell, Communism sound cool. Everyone equal, wanting for nothing or in the latter workers controlling their destiny and wealth. Sounds definitely morally superior than some dog-eat-dog Capitalism until you give it any serious though and start to consider various game theory aspects which describe why those systems tend to fall apart rather quickly like race to the bottom and human nature in general. Capitalism is not perfect but it no doubt plays well with humans flaws like greed, envy. There is a reason in the last hundred or two years we have seen an explosion in human advancement the likes of never before in history that I can think of. Not even close.
@@seditt5146 And there's the problem Intellectuals (especially the Socialist/Marxist types) all have to deal with. History: the petri dish of their theories upon which millions upon millions have had their lives brutally spent to satisfy their ideologies. If I were one of those people, I'd definitely sink into pseudo-intellectualism to avoid the shame and guilt. Even better if I can spend most of that time pointing out the faults in other ideologies to divert attention away from the bloody reality of mine.
I wouldn't necessarily call what intellectuals have memorized as knowledge. They are well trained though.
@Troy Carr you are not worthy of that quote
Adam Smith was an intellectual. Stop talking shit on the internet and go read a book.
Wow, given that this message board is attached to Reason TV's channel, I'm genuinely SHOCKED at the degree of ignorance in the responses below. Have none of you mouth-breathers ever taken a course in Economics? What Mackey is saying is 100% accurate.
ZombieTex Yes, but it doesn't *feel* good.
ZombieTex Hold up, my screen is foggy and my keyboard covered in drool. Wait, let me wipe it down.
+WayneBrady "This is where I refer back to my very first statement above. I'm shocked at the degree of ignorance on this board.
First, you never bothered to ask WHY those children were working in the coal mine in the first place. Is it because they had the world's meanest parents? Is it because they were taken slave by the companies who ran the mines or the other factories where they worked back at the end of the 19th and start of the 20th century? Why did they work there? Why didn't they just go to school?
Oh, that's right ... because they had to eat, and we didn't have enough wealth and prosperity to provide for them, so they had to provide for themselves or they would die, and the coal mines and the factories were THE BEST OPTION they had. Go back and read a history book. At this time there was a great migration of people from rural areas into urban areas to work in mines and factories. Why? Because it was BETTER! Have you ever worked on a farm that didn't have a bunch of machines? It's back breaking work that starts before the sun comes up and ends after it's gone down ... all through the middle of which you have to toil in the blistering sun. The factories gave these individuals the opportunity to earn MORE money working FEWER hours, and do it INSIDE out of the sun.
In the 20th century, mechanization and automation technology boomed. Factories were outfitted with more machines which made every employee far more productive and prosperous to their employers. As employees became more productive, they becomes more VALUABLE to the employers as each employee brought them more profit. In order to get and keep the best employees, employers had to increase wages or risk losing their good employees to the competition. Eventually, parents who also worked in those factories began to make enough money that they could feed the whole family on their own salary. They stopped sending their children to work and started sending them to school.
It wasn't until the free market had the problem of child labor and child school attendance 95% solved that the government came in and said "What we need is a LAW that will protect children from having to work, and make them go to school!" So they passed a law, did 5% of the work, and got 100% of the credit.
Children work in some economies because there's no yet enough prosperity to go around so that the parents can support the whole family on their labor alone. It's not because "people are mean" ... it's because people need to eat, and no one else is going to feed them.
So what happens when the economic opportunities aren't there, and you force children to stop working anyway? Well, we already know what happens. When a bunch of bleeding heart liberals saw that there were children working in a Pakistani sweat shop making shoes, they staged a boycott and started a petition to force the American company who outsourced to them to shut down the factory. Eventually, the company had enough pressure and the factory closed. VICTORY! ... Well ... wait. Yes, the children were no longer working in the factory, but what were they doing now that they had no factory to work at?
As it turns out, the reason they worked at the factory is because it was THE BEST OPTION available to them. There was no public school, and their parents couldn't afford FOOD, much less an expensive private school and the uniform and books that go along with it. The family NEEDED the children's wages just so they wouldn't starve to death. They simply couldn't do without them, so, what did they do? Well, given that their BEST option was stolen away from them, they had to resort to their second best option ... CHILD PROSTITUTION!!!!!!!
Good job, bleeding heart liberals! You really saved the day!
Eventually these economies reach the point that they are prosperous enough that the children won't have to work ... but you have to let them get to that place on their own. Hong Kong and Singapore used to be nothing but sweatshops ... but because of capitalism, they are two of the most advanced economies in the world. They don't have child sweat shops any more ... and not because they were outlawed ... but because the economy made them obsolete. Mainland China is just about to that point as well. All these countries that had or have these sweat shops are improving all the time ... and the only way they can continue to improve is if we CONTINUE to give them opportunities to improve their economy and prosper.
And don't forget that our children not working is a historical aberration. It's not like, historically speaking, children were free spirited delights who frolicked in the meadow all day until they turned 18 and gladly joined the work force. Or spent all day in school the way we do now. Since the dawn of time children have ALWAYS WORKED ... and usually in some sort of back breaking labor in the sun all day long. This is the norm, so quit looking at history through the rose colored glasses of today through which the reality of history looks like a nightmare in comparison to the easy, care free life we enjoy.
ZombieTex Well, I was about to attack WayneBrady but you did it better than I could have. Congrats.
+WayneBrady It's called history. Learn it.
"Social progress Is done one Funeral At the Time"
@@fullsend8738 USSR must've been one hell of a business then.
@@fullsend8738 maybe you should take a look into any non-propaganda history book
@@fullsend8738 I see it took you 2 weeks to come up with your weak comeback, nice.
"People have to die in the revolution. That is to be expected. Just not me." - Progressive College Kid
@@fullsend8738 What on earth is wrong about suggesting the USSR caused the deaths of millions of people? That's not propaganda that's verifiable. People who lived through the Gulags are still around today. Point being you said business progress is made via genocide, which is odd given that the most numerous genocides have not been completed on behalf of capitalist businesses. It's an odd contention. There are businesses that have murderous histories, or get their supply from dubious places. But that's not particularly common relative to every business in operation at any given time.
The intellectuals might be from old money and lose the sight of their "founder" that worked hard to get to their status...they also are threatened by their status quo from creative destructivism and want to beat down those who would use capitalism to unseat them.
"Petty people often hate what they cannot do and then hate those who can do what they could never do or dare to do." - brian padrick drake
I am an intellectual.
And I LOVE Capitalism!
Of course I am also a Libertarian Party official, so I may be biased :-)
LP member here. Where you at playa?
@@themeadowlarkminutewithpau8184 in ny
I wouldn't call that bias, unless your affiliation drives your motivations, instead of the other way around.
@@GeeTrieste rip.
@@ominarous ayy ancap lol
“Tom can look out for himself” - this is the greatest understatement. YES, Tom absolutely can and should lookout for himself, not the government.
I am beginning to agree. Let's not F_CK about though.... If one is to "make it on their own" there can be no help at all. Get rid of Fire, Police, and Ambulance. If you can't protect yourself, put out your own fire, or heal yourself, YOU DON"T DESERVE TO LIVE! Don't pay taxes, or expect anyone to teach you anything! Don't expect highway repair unless you get out there and do it yourself! You are on your OWN!
7:36 I see that while shopping at retail stores. One person per department. One in toys. One in domestics. One in chemicals. One in market. One in electronics. No one in pets. No one in sporting goods. No one bedding or home. Few to no one in the softlines area. Only two cashiers and one self service attendant. One guest service advocate. One manager for the entire store that is always overwhelmed like his employees.
A whole bunch of customers that need help but can't find anyone, get aggravated, take their frustrations out on the employees, and lower morale for workers who in turn quit. Thus raising turnover. Customers leave and find every other store is doing the same thing because, hey, businesses can't afford to hire more help. Everyone loses.
Yep, I used to work at Tracyor Supply. Closing shift we would have no more than 3 people on staff sometimes just 2 cashier and manager.
This is exactly how it was for me at Walmart.
And in the meantime the Walmart niece spends 450 million on a yacht
Decrease profit, increase wages
In the early 1800s, more than 90% of the world's population (can't remember the exact figure) were living in extreme poverty. By the end of the 20th century, that number was less than 10%. What changed? Capitalism and individual liberty. These are the engines of innovation and the means by which ALL of society prospers. The poorest people in this country enjoy benefits that would have been a pipe dream to kings and queens just a couple hundred years ago (electricity, clean running water, indoor plumbing, computers, telecommunications, life-saving medicines, etc, etc, etc). So don't give me this crap about the "immorality" of capitalism. What's more equitable or moral than raising the standard of living for ALL people, regardless of socioeconomic status?
in the 1800s the vast majority of folk were subsistence farmers who had a much better standard of living than anyone with the bad luck to get caught up in the industrial grinder... of course, some farmers had it better than others, but the idea that 90% were in "poverty" is meaningless, since most were outside of market systems and many had a very good standard of living compared to folk in 19th european cities... now we have more poor folk than ever, in absolute numbers, not to mention a large population of folk near starvation. Further, we have many folk who were sure their living standards were going to go up and as the financisphere grows and the rest of the economy shrinks, they are seeing their and their offspring's living standards fall. In the 19th century even into the 1930s, many folk grew some or all of their own food. When the crashes happened, they affected mainly the urban populations. This was pretty messy but manageable. The next big crash should be interesting.
This coming from a semi-literate dipshit who resorts to ad hominems with all-caps and cute little emojis like a 12-year old pre-pubescent girl. The grown ups were having a conversation. No one was talking to you, little boy. Now, go back to your room and think about the decisions you've made in your life that have brought you to the low place of trolling other people's conversations to try to prop up your own fragile ego. The fact that your intelligence, attention span and reading comprehension do not allow you to make it past single-sentence platitudes only reveals your own lack of intelligence, not mine.
Look how all the Communist's heads exploded. Don't confuse them what happened in the real world, LOL.
@EPLURiBusUNUM Before they could leave the farm. Farm productivity had to rise. Now that millions of poor peasants are now workers that just make the working class all that much stronger. The capitalist are greedy. Their greed can't help to create class struggle. Just remember you need us but we don't need you. We are a class of people who produce everything while you do nothing. Steve Jobs who you worship began his business career as an industrial thief. He build and sold blue boxes to defraud AT&T of their long distance toll charges.
Relative income is more important than absolute income in determining human happiness. People making $50k a year are happier when their peers are making $30k than people making $150k with their peers making $200k.
*Capitalism is the only economic system that helps poor people to get rich.*
#Capitalism #Poverty
The government has removed any _"socialist safeguards"_ it is more and more socialist! That is what is making it _"harder and harder."_
_"And, why do you assume that having rich people is actually good?"_ Is not an assumption is a fact. Do you like to starve or something?
Why do you assume and blame everything is Capitalism fault when it is actually disappearing, dart200? We no longer have a free market any more.
dart200 bullshit! You really do not know what you are talking about. Richness doesn't mean lots and lots of money.
Richard Everybody knows that fork manufacturers are responsible for obesity.
*****
No, you are wrong. You have been misled by socialist con-artists. Capitalism is the study of the accumulation, use and creation of capital (valuables, time, labor, etc.). Free market capitalism means that each individual makes his own decisions about how to best use his personal capital to improve his life or accomplish his goals, this is freedom. Power is diffused among us all, since we all own capital.
In contrast centrally planned capital management as found in democratic socialism, fascist socialism, and communist socialism concentrates the power in the hands of a few corrupt government bureaucrats. These bureaucrats decide for you how you are aloud to use your time and resources, mostly to benefit them and accomplish their goals, this is slavery.
*****
Sorry, you are insane, my mistake.
Capitalism is the reason you've all of the basic necessities and then some.
***** The United States' implementation of capitalism was better quality, scale than Germany but still...Both countries have capitalism.
Germany's capitalism is there, but heavily mixed with European Socialism. The culture of Germany is why Germany is Europe's economic powerhouse, along with its location.
See what will happen in 10 years when computers and robots take over labor.
nethoser America's capitalism allowed the "Free World" to exist and has given the modern society we have in Western Europe, Canada, Australia, New Zealand, and of course the United States.
The problem is that the United States government has corrupted the capitalism we have in the United States and it's been doing it for almost a century....
nethoser It's a vicious cycle. The politicians give money to group that support them so they (the politicians) can get votes. Meanwhile lobbyist (big/rich businesses) give money to sway politicians to protect, growth and enhance their business.
It works both ways, but it's wrong...the business should operate under the "Free Market" while Politicians shouldn't be subsidies by lobbyists...In the end, the consumers/taxpayer get screwed in the end.
hag12100 That's a funny way of saying can't afford to get ill.
The real intellectuals ARE supportive of voluntary commerce. They're called libertarians.
Bushrod Rust Johnson Being an intellectual is like being powerful: if you have to say you are, you might not be.
Ken Clark
We use precise criteria around here.
Bushrod Rust Johnson What do you mean?
Ken Clark
It means that statements are not left open to reinterpretation based on "feelings".
Piriathy
No, libertarians believe that people who are out of work should find new jobs. However, the state makes this difficult with all the artificially high costs of employing people (you will immediately think I am talking about wages, which I am not), as well as high barriers to self employment.
I have a friend who never knew his father, mom was on drugs, he was raised by his grandmother. He was kicked out of school and later went to prison for four years. In prison he set goals; establish a relationship with God, get is education and help other when he can. When he got out he couldn’t find a job, so he started a hotdog stand. Ten years later he has several restaurants and food trucks, supports his community and schools, helps others to not go to prison and to find God.
Free market gives anyone and everyone a chance to grow a business as much as they want.
I don’t understand why liberals think wealthy people are taking money out of other peoples pockets?
Government has never been able to be a better determiner of business functions.
I realized that! the minimum wage raises the entry threshold for work force.
it is pretty much like the "experience" requirement -- nobody will hire you unless you have an experience.
it is now clear to me that the minimum wage acts in a very similar manner and also reinforces stronger requirements for newcomers job seekers.
I already had a large amount of disdain for leftist intellectuals, but it has now skyrocketed.
***** As characterized by John in this video as being those who have disdain for people freely interacting in marketplaces, who think these kinds of people are below them and that they know what's best for society (as opposed to letting people self organize). Please use Johns words in place of mine. Perhaps you don't fit that description. The term "leftist intellectual" can have almost infinite number of definitions. So my beef is that they use the force (truly violent force or the threat of violent force) of the government to outlaw as much as possible (via regulations) this process of voluntary free association (free markets).
***** You can put the taxation is violence premise to the test, don't pay "your" taxes and see what happens. Eventually people with guns will come and force you into a cage. There's the violence, or threat of violence which is the same thing. We can argue this further if you like. I would like to hear your rebuttal of John's statements regarding being better than everyone as he was more eloquent than me. Leftists tend to want politicians to decide what is best for everyone, that is the nature of political law, one law applies to everyone, one-size-fits-all. For example, if you smoke pot we're going to hurt you. We think people who ingest psilocybin are wrong because we know better. That's what I'm talking about and they are telling me what to do or not to do and I am deeply offended by this as it is an act of aggression against me. It's the height of arrogance (and is violent).
***** Adam, what are you talking about here? Where did you get the impression from this video (or anywhere) that Mackey disdains his own customers? It almost seems like you didn't really listen to what he was saying.
***** ... and what's the difference between WF and Trader Joe's fundamentally, other than TJ offers lower quality and service therefore being able to offer lower prices and which Mackey's 365 will compete against directly? WF has been around forever exposing itself to competition. Your comment seems to mirror what others often say about WF and disparage it because of its prices, but look at their employee benefits and salary and the products and the physical environment, it caters to a more wealthy clientele who are willing to pay for those things. To criticize WF for satisfying its customers seems naive.
***** You're starting to sound like a libertarian! Some people "founders" got together and decided they could rule everyone as long as they made it as palatable as possible to the people at that time. I don't buy into the "necessary evil" thing. As for the alternative, there is no shortage of writings and lectures out there, I would encourage you to try to put aside as much as possible the natural human tendency for confirmation bias and find what's out there. I'm going to choose not to help so that you have some skin in the game. And BTW pot is still illegal in Colorado (or partially legal if you insist). They will still hurt you if you disobey their arbitrary and immoral rules.
go capitalism
Jiftuq Bf plz reply to my comment
i just got likes
Jiftuq Well.
1. I agree with him. Yes, a buisness is in the end commited to the share holders.. To fulfil that obligation, It comits to many others.
2. Yes, Comments are fun.
Yup. Our record is like 100-0
The "impulse to regulate" will never be lessened no matter how touchy feely a business becomes.
Dude needs to corner the market on a good hairstyle
Haha
Chris Snyder Such as that which is in your tiny picture?
Bushrod Rust Johnson Yes...excellent choice
Davis Letterman is proof you can get rich with bad hair.
Kind of a funny thing to say for someone who looks like he stuck his finger in a live outlet.
I hung out in the neighborhood behind the “original” Whole foods (in front of the 7-11 on S. Lamar-Clarksville). John Mackey was always there and extremely friendly. He has earned his wealth and those who question his wealth should actually start a business, then question him.
“Intellectual” is an inappropriate term; “low-common-sense” is the correct description.
Success in a free market means providing people with what they want - and there's an inherent humility in that.
Intellectuals feel they know what people _should_ want.
One of the clearest, most sensibly presented videos about why intellectuals tend to become socialists. I should like to add that also, though socialism is incompatible with reality, Universities, having become captive to government funding, are therefore sheltered from the cleansing rigors of reality. They have become indoctrination camps for socialists, which then confuse intellectualism with the concepts they were indoctrinated with during college. Since college is like a pipeline that feeds the whole of society (indoctrinated graduates become the journalists, teachers, politicos, CEOs, etc.) it's just a matter of time until the socialist poison contaminates it all and kills Liberty. The original sin that brings about the eventual loss of Liberty is government funding of higher education.
You are delusional if you think universities promote, en masse, anything but the idea of capitalism. Status quo is what all universities wish to maintain, sorry there are four or five courses out of several thousand that mention socialism lol
9:20 ... I just had a Milton Friedman moment. Corporations don't pay taxes, the consumer does. This guy just confirmed that. Thanks Dr Friedman.
Edit: about a minute later the interviewer says Milton Friedman is one of the guest's heroes.
so then that begs the question..."Why do we still have an income tax rather than [assuming the government is justified in the amount of tax revenue it takes from us] a national sales tax of about 20-25%?
If the answer doesn't come to you right away, try to channel more Friedman or Hazlitt or Rothbard or von Mises or Hayek. ;)
@@smokedbrisket3033 Lol you missed the whole point. We pay both essentially, the individual income tax as well as any taxes levied against businesses that we patronize.
@@thetedmang - no, i think you're not getting mine. we still have an income tax because it is used to reward and/or punish as per current political power distribution. Perhaps you're also missing out on the additional dishonesty of corporate income tax - in practice, it is a VAT, without the benefit to us of knowing how much VAT we're paying on any given purchase. I'm not advocating for VAT, btw, just pointing out that VAT is at least somewhat honest and knowable. How much, for one example, Lowe's remitted to uncle sugar last year, and how much that affects the price tag on things sold at Lowe's...not so knowable.
A national sales tax would have the great benefit of teaching even lofo voters that it is government who costs them so much, who makes their lives even more difficult, not "greedy capitalists."
Going back to the Lowe's example - if I spend $100 there, I actually only bought about $75 worth of product; the other $25 went to pay corporate income tax all the way up the supply chain
Fundamentally, you and I are in agreement. This is just getting out in the weeds.
@@smokedbrisket3033 Yeah, fair enough, I get what you're saying now.
Just finished reading John’s book, and wanted to come here and give my highest recommendation. His advice may not be easy for most businesses to implement - just like healthy eating and exercise is much harder and less fun than junk food and videogames (i.e. ‘Crony Capitalism’ and the short term quarterly ‘trading’ model of the financial sector & Wall Street) - but it is much better for the corporations over the long term.
He expands upon Milton Friedman and Adam Smith, so if you’re leaning towards liking either you’ll definitely dig his book.
Never would I have imagined that the CEO of Whole Foods would be absolutely on top of this subject. I’m going to have to read his book.
This is one of the best explanations about the intellectual and aristocratic view of “trade”, as well as the basics of capitalism, that I’ve heard in a while.
Trader Joes > Whole Foods.
-FFM
Daryl Christensen
and 2 people can find something in common, even if they differ in all other major aspects.
i also like cheese and bacon.
-FFM
I like cheese and bacon too.
FuriousFatMan Hardee's > hippie stuff.
FuriousFatMan what does FFM mean?
I see now, it’s your username.
Government is the competitive "business down the road" that offers Tom an extra 5 bucks an hour but in the end reneges on paying up...
The government actually promotes monopolies and suppresses healthy competition.
If the margins are so incredibly thin for businesses that labor and services need to be eliminated why has CEO pay skyrocketed?
Glad to see a sensible comment amongst all these die-hard capitalists. What that guy was saying was motivated by pure avarice, I couldn't believe I was actually hearing him pining for the good old days of completely unregulated capitalism where companies paid their employees so little that they had to work for 12 hours a day every day and still didn't make enough to make ends meet.
@@mikean7074 There are people having to work 12 hours a day Now. Or more. Like truck drivers and airline pilots. **Shudder**
Let's look at Walmart of 2019/2020:
CEO compensation: 22M USD.
Total profit: 14B USD.
Total revenue: 500B USD.
So profit margin is 14/500 = 3%.
CEO compensation is 0.15% of profits.
Basically, Walmart could increase every employee's salary (all 2.2M of them) by 6,300 dollar per year and make no profit whatsoever.
That amounts to a whopping +3.5 USD per hour per employee.
Margins ARE thin! Especially so in competitive markets that are free from government intervention and forced monopolies. Markets that have high margins tend to be heavily infested with government regulation such as the military-industrial complex, healthcare (which run under license) and the public sector construction business.
A bad CEO can ruin a company. So they put a premium on finding only the best.
LMFAO as a Whole Foods employee It’s great to see all the socialists in our stores getting BTFO’d by the ex-CEO
He claims that wages are settled on productivity. So why have wages stagnated even though productivity is at an all time high?
Coen Olson ... because of technology.
You misunderstand. He’s talking about relative productivity, not absolute.
If I buy a machine that triples your output, but is even easier to use, then you’re that much easier to replace. Relatively speaking, your value is determined by how many other people could do what you can. If everyone can do your job, it’s not valuable (fast food cashier). If there are people clearly more productive in the same role, they get higher pay (tech sales, etc.)
@@jpg7616 High wage jobs which are mostly skilled are replaced first. This is what drove the auto industry to robotics. This is also why the general level of education is what many jobs are reduced to. So if you don't understand numbers you can't be a cashier. The same with being a truck driver if you haven't learned to drive a car how can you start driving a truck?
You just see the face value of money, not the products you can buy from that wages
Mackey has said that "artificially inflated wages" cause unemployment. Idiotic. Then Amazon told him to to pay employees $15/he, he argued w them and cried it would cut into profits. They said "we know", and he can't digest that. He can't fathom profits going back into the company. He scapegoats "intellectuals", and blames people for the social problems in communities instead of the systems that govern people. He's the wealthy "intellectual elite", out of touch with people and only interested in the growth of his business. Whole Foods has record profits right now and they took away hazard pay away, and cut labor. So why would he say he believes productivity determines wages?
@@Infinite_AM Don't know where you are getting that from, Wholefoods profits have been relatively flat for years, 2020 saw a 13% decline in sales. If anything it is struggling to compete with the more affordable Kroger and Walmart grocery stores. Makes perfect sense, people have less money they can't afford to shop somewhere with a 20+% price premium. In an effort to compete there has been an initiative to reduce prices for goods. That doesn't come from nowhere, it is being negotiated with suppliers and the like but I am sure it also means cutting benefits for employees as well. At a grocery store you could replace all of the cashiers with self checkout if you really wanted I am sure. Just as he said in the video, that is what is happening all around the country.
Amazon as a whole did incredibly well last year, but it's physical stores saw a decline in sales. Why would they invest more in their weaker elements when they could be investing it into places where they are seeing growth?
I agree with most of what he says, but why are businesses "psychopaths" for trying to make as much money as possible, when the employees role is to make as much money as possible. Which do employees prioritize, making more money or doing some "good" for their employers? As long as they are getting everything they possibly believe they can get out of their employer, they might feel some sense of "let me do something good for the company's benefit", but largely both sides are looking out for their own self-interests.
Excellent presentation, this is how the economy works.
His analysis and articulation of the relationship between snob intellectuals (closeted aristocrats) and bureaucrats was spot on.
"First of all, Tom can look out for himself." - Yup, that about sums it up. I'll buy some stock in this company just because of that one sentance.
If Tom isnt spoiled by Society and his family, friends and school he can look out for himself, the problem is when Tom is over spoiled and then society expects anything grand from him.
He's right. If most capitalists weren't greedy, selfish, and lacking in empathy, strong government regulation would not be necessary.
the simplicity of what is being said here is so powerful. envy is evils motive. entitilement. its exactly what is coming to a head today. everyone thinks so much of themselves we function at a stockholm level and dont even realize it.
This is a good interviewer and a good interview. Thanks for posting.
Exactly. Both well spoken
It's funny how many of his blue haired employees absolutely hated him....until Amazon showed up. The wailing and gnashing of teeth was glorious.
Capitalism works, the current version of Crony Capitalism does not.
I almost didn't watch this because of the title and intro. I'm glad I continued. Great message!
This dude's brilliant, especially his description of how everything comes with a cost. If you even so much as read comments from Europeans (who are socialists almost to a man) you immediately notice that they think that things like minimum wage have no costs associated. They think resources for stuff like that just falls out of the sky. And as Mr. Mackey describes (as Milton Friedman and others before him have), that simply isn't so.
Bro... we (Europeans) are not socialists. The majority of us believe in capitalism.
The socialist ones think their health care and education are free.
@@stevegraham2535 They know it's not free. But they also know that healthcare shouldn't be beholden to the profit motive lol
Most of these intellectuals he speaks of belong in quotations. Let it be known that gender studies is not a degree, it’s a bumper sticker.
I’ve been yelling this for years. Wages are not the story, labor costs are the story. Government keeps telling employers to give employees this and that while taking credit for giving it to them themselves.
Great video. John Mackey explains things really well.
I'm a business owner and this is utter shit.
What he says about wages might work for his business- simply because his market is high opportunity/high wage areas within large cities.
Workers do not have the same freedom of movement in rural areas, say, a Wal-Mart in a town with >1,500 people.
If the government didn't intervene, those stores could pay whatever they wanted and residents would have no choice but to take whatever they're given.
Employer competition does not drive wages.
Agreed. You can see all the supporters of his opinion are exaggerating. I personally don't agree with the national $15 minimum wage approach, but his example is gross and I find it dishonest for him to use such an example. In fact, minimum wage is more likely to help larger corporations like his, where they have more "wiggle room" to pay workers higher. Minimum wage makes it harder for smaller business to compete because they don't have the economies of scale.
@@dailyrant4068 Small business is gobbled up by big business as a general law of capitalism. Raising the minimum wage will push up all wages. Rents are high in the cities if anything it will work to increase economic activity in the rural areas.
@Joe Crawford I can and have read a number of economic texts online at Marxsits.org, I've also read, Che Guevara: Economics and Politics in the Transition to Socialism. Capitalism has its own built in economic contradictions that the ruling classes can not escape that will send it into first trade war and then real world war. Just like it did in the 20th Century.
If you’ve always been tempted to read Ayn Rand’s Atlas Shrugged, but scoff because of it’s bible-thickness, this 15 minute clip is a good “cheat notes” summary of it.
Loved the book. It was one of the first novels where the heroine gets laid by three guys.
Nice video. Even in feudel Japan, The artist and samurai were considered higher class compared to merchants who actually generated the wealth of Japan. Multiple times Japanese intellectuals attempted to hold back capitalism by limiting trade to one port like Nagasaki, and even allowing Samurai class to behead merchants at their will. Monarchs and religious leaders all have conspired to paint capitalism in a negative way. There has always been a strange disdain for free market and making compared to ruling class and religious orders.
I worked at a university before. It's like a government job. Very relaxed and easy going work environment.
The university employees who consider working for corporate America were worried about the dress code, the long hours and work load of corporate America.
Many university intellectuals are scared of capitalism. Scared of hardwork. They somehow think socialism will be like a cushy government job.
I entered the Whole Food Market / Foggy Bottom, Washington, DC with the intent of purchasing bath soap. I was carrying a reusable grocery bag containing two items I had just purchased from CVS.
Without touching Whole Foods merchandise, I visually determined that this location was sold out of the brand of soap that I wanted therefore I proceeded to the exit.
Before reaching the exit, I was stopped by Troy a Whole Foods Associate who informed me that I could not put Whole Foods merchandise into my bag without first paying for it. Further, he stated that there’s a sign had been posted near the entrance.
I also noticed that the store security officer had moved from the entrance and positioned himself at the top of the stairway used to exit from the lower level of the store.
I am concerned as to why Troy needed to remind me of a store policy that I had not remotely violated as I had not so much as touched Whole Foods merchandise and why a security officer was placed on “stand-by”.
Is Whole Foods / Foggy Bottom profiling, everyone, with a reusable bag as a thief. Or, do I fit a particular profile?
You're way too sensitive
@@asherdiegrumpybill - Thanks for your reply. :-)
You are a pussy!! Loser
235+ people who watched this vid either don't get that people respond to incentives, and that everything has costs and consequences, or they've never worked in the free market.
It is very refreshing to see a business magnate defend so brilliantly free market capitalism. University students are, by and large, force fed the lies by anti capitalist academicians that the free market is "selfish", and only benefits the wealthy. These academicians are of course the "intellectuals" referred to in the video title. I really do think that a major factor in their hatred of the "business person" is that they resent the fact that the business person often earns more money than they do, and yet ( they feel) that they, as academics, intellectuals, and scholars, are smarter, and should earn more. In a socialist or communist state, they probably would earn relatively more, which also gives them a bias to want such a totalitarian state.
Any Rand had it right, that capitalism is the only moral form of economics. I hope this Reason interview with John Mackey gets widely distributed and watched, and maybe there is still some hope for our presently badly confused culture on the subject of economics.
Exactly; spot-on. There is no free lunch.
I went to Whole Foods once and was so taken aback by the overwhelming number of creepily homogeneous yuppie types, that I made a personal vow never to shop there again. A truly awful experience.
+Colin Sherritt Give me a break. Why wouldn't you base whether or not you shop there on whether or not you want to buy what they're selling???
Lol! U would rather eat chemicals because of what ppl look like in w f? Lol
Thomas Mel
No, and I'm afraid your inference is flawed logic. My decision not to shop at WF, means not shopping at WF, not any express desire to consume GMOs or chemical-laden food. I'm really not sure how informed a consumer you are, if you're under the impression that somehow WF is the only source of such products. Wise up. "Lol!"
Colin Sherritt you are awful at damaged control. .😂
+Josh A Apparently, so were your parents. Quit comment-stalking me and find something productive to do.
Love Whole Foods. I really love the choices. Great cheese selection. I punch a clock for a living too so it really doesn't cost much more either. TJs is great too BTW.
The cheese at Whole Foods... so good!
It’s comical the “one solution fits all”people love to apply.. It’s like implementing NYC’s COVID measures on Amarillo, TX, taking in no account for population density etc.
Mattress Mac has proven these benefits
Mackey - Milt Friedman and Tom Sowell would be proud
Much more respect for John Mackey, now that I heard this interview.
Very smart and impressive man, and a great interviewer too, who let his subject talk at length.
It seems like the biggest issue we have stems first from schools and parents. We don't teach kids (and teens) actual life skills like balancing their checkbook, budgeting, filing taxes, and how to be assertive. If they understand how to say no properly and how to actually think, then really we wouldn't need a minimum wage at all. The businesses that don't pay their staff properly will find they don't have staff to actually RUN the business.
I've thought about this a lot. I spent the first 7 years of my adult life in academia getting a master's degree that I never used. I spent the next 7 years building and growing a business. Academic people and capitalists live in two entirely different worlds and mindsets.
I think it's the sense of pragmatism that intellectuals lack. And not just lack, they don't respect pragmatic thinking at all. They place too much value on ivory-tower theory, and they often shun and scoff at someone who is thinking pragmatically. Yet pragmatism from my experience is the #1 trait you have to have if you wish to make money in the free market.
John Mackey just said it all ... these "intellectuals" lack the capacity to under stand what business does
It ruins my life lol. I like business that benefits all and hurts none in the process
I'd like to hear the counter argument to Mr. Mackey's view on intellectuals. I also think it's a Moral argument. Intellectuals have their own morality that they want to be seen in the world.
There's a difference between morality and practicality. You can't write laws that change human nature
This was a great interview! Economics 101 and Capitalism 101 rolled in one.
If stores get rid of cashiers and everything goes to self-checkouts, will prices go down?
No
Depends on the products elasticity
@@fastgun31217
10:48 into video is such a lie. This guy is inserting such non truths, I hope people will be smart enough to see that.
Somehow government became the uninvited third party to every transaction.
Government has a monopoly on the initiation of force. No one should have a right to use force.
@@goatface6602 What do you think about retaliatory use of force?
Yes. As it grows in coercive power, government becomes more difficult to distinguish from a protection racket.
I consider myself an intellectual and I don't hate capitalism. That's an embarrassingly lazy generalization. What I hate is the kind of 'crony capitalism' that has taken our economy over in recent decades. With this type of manipulated capitalism, where competition is systematically eliminated and corporations own politicians, there can't really be a free market that operates on the basic principles of open competition and supply and demand. Capitalism, in and of itself, can be a workable system as long as those with the power in the market are checked by fair and sound regulatory regime that holds the worker and consumer as it's paramount concerns.
Glad to hear you 'approve' of Capitalism. Otherwise we'd all have to abandon it, based on your anecdotal impressions, Mr Intellectual.
+Will I have no idea why you're trying to pick a fight, but I'm not interested, so move along.
If you're not interested ignore the mockery.
+Will You're acting like a child. Grow up.
So you do want to have a hissy fit? I predict the "I'm morally superior" act will unlikely last another comment, and the drooling & ranting is short to follow...
I'm a lawyer, I view myself as a middle ground between business and intelligentsia. I exist because of business. If "less intelligent" people didn't wake up and process lumber into trusses, who the fuck would need me to sue their insurer for refusing to pay them out when they suffered a fraud?
It's upsetting how ungrateful the intelligentsia is to the commercial sector that creates the wealth that allows them to live so comfily in their ivory tower...
Good stuff.
And funny how the "intellectuals" at large hate capitalism. Nick Gillespie holds a Ph.D. in English Literature. He's about as "intellectual" as you find.
In my experience, “the intellectuals” tend to mistakenly believe that the world in their heads is relevant to the world outside.
"intellectuals" ahahahaha
bullshit word they came up with to fantasize about sticking their boot on your neck and not let you up
Adam Jacobs I think people should be free to decide on their own what they should do to be most productive. I have taken 6 weeks off work this year because I feel it was very productive. If someone else wants to not take a single day off they should be free to do so. In capitalism I negotiate my terms and while someone who constantly sucks up to the boss and works constantly will get a promotion sooner than me I am ok with that and don't think I have any right to make rules restricting him from doing so. I am free and in the same way he is free. No politician or intellectual should tell me what I or the other guy has to do.
so this guy actually feels self conscious about being dumb as a stump. That sucks for him.
Curt D spoken like a guy who didn’t vaccinate his kids #science #data
Leonidas Sabr so basically they believe intellectuals are apart of the Jewish conspiracy and white genocide bullshit
One thing he leaves out about min wage is that 99% of all housing has minimum income requirements. I worked at a apartment complex when I was young. Even working there, They didn’t pay enough to meet the financial requirements to live there.
That's how the system works.. workers are always paid as little as they can get away with. Workers need unions if they want to have any bargaining power.
I hope the superior intelligential minds have to stand in the bread line to keep from starving to death.
"Social progress is made one funeral at a time." lol
Liberals promote a two class system, serfs and lords. Lets say everyone person in "lower class" jobs make $25 an hour. So now everyone at the bottom is the same, the middle class disappears and there are the rich and poor. What motivation is there to learn new skills, improve and be productive when a person and their children are always guaranteed serfdom?
The main issue will always be, when you start a job at $25 an hour, you will die making $25 an hour. When that happens bread is $100, meat is out of reach and everyone except the rich will live in shanty towns.
Look at what is happening now, recent history as well as the history of most countries on the planet. It repeats itself and the founders attempted to subvert the coming treachery by giving people the power. They assumed people would get smarter with time though, but its the opposite... Idiocracy is upon us!
That's a straw-man argument since no one is advocating for a $25 an hour minimum wage. There have been some municipalities that have passed a $15 an hour minimum wage that would be phased in over a five year period. #factsmatter
"what do you think of people saying you're too expensive?" **I dont like it!** >.>
Dude.. great time to explain how you offer superior product and service for the additional cost, as well as better compensation for employees. Wasted opportunity there :(
Great interview, Mackey knows what he's talking about.
The hair on these two... it's almost comedic.
I'm not really a fan of the man. He has these high ideals but at the same time he pumps his stock on message boards anonymously.
+zdwade He invents terms like "conscious capitalism" but sells his naive customers over priced bullshit.
+JoeTehCoder By bullshit i mean products like: Asparagus Water
+zdwade *citation needed*
+Smoky Charizard its called Google. Not that hard. www.nytimes.com/2007/07/12/business/12foods.html?_r=0
+Jan Andhisfiets no such thing as overpriced if its purchased. Read up on Subjective Value Theory
I really like this. I still agree with Friedman in spirit. I think that the primary responsibility of a firm is maximizing shareholder utility (as opposed to wealth, per se). If the shareholders value social responsibility and are willing to give up some money in order to achieve that - so be it.
When ur best defense against being called overpriced is to say “everyone says that.”
How are they "overpriced" when tons of people willingly shop there?
Nothing like spiting at your customers - I haven't seen too many high school drop outs shopping at whole foods
Lol 1%er with political influence thst doesn't know or understand that he's the aristocrat
I found that funny too!
But he wasn't born there. He got there by working for it. Same with Bill Gates. Try building yourself up like that in your socialist utopia.
I find this convo fascinating. But I’m a bit confused as to why business would be against govt healthcare or Medicare for all. If business only has to pay a standard fee as well as individuals, then the business doesn’t have to pay for mandated services. They pay employee less and employee can move to different employers or start their own business without having to worry about health insurance. It’s one of the reasons I didn’t start my own business earlier.