Whole Foods CEO John Mackey claims capitalism is cannot be replaced by socialism

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Multi-millionaire Whole Foods CEO John Mackey claims capitalism is the ‘greatest thing humanity has ever done’ and says it cannot be replaced by socialism which ‘impoverishes everything’

  • Whole Foods CEO John Mackey, 67, has slammed those who criticize capitalism 
  • Multi-millionaire claimed socialism is ‘path to poverty’ during Zoom interview
  • Instead grocery store boss is calling for business to adopt ‘conscious capitalism’ and blamed progressives for portraying business as ‘inherently corrupt’
  • Also claimed he’s been heckled during several college talks and even disinvited

Whole Foods CEO John Mackey claimed capitalism cannot be replaced by socialism, stating it is ‘the path to poverty’. 

Speaking to Robert Doar from the American Enterprise Institute via Zoom last week, the multimillionaire, 67, said capitalism is the ‘greatest thing humanity has ever done’ while claiming socialism ‘impoverishes everything’. 

The grocery store boss, whose business is said to ‘lead with love’, spoke passionately about leadership and criticized those who slam capitalism. 

John Mackey, who founded Whole Foods in 1980, (left) spoke with Robert Doar from the American Enterprise Institute (right)

John Mackey, who founded Whole Foods in 1980, (left) spoke with Robert Doar from the American Enterprise Institute (right)

John Mackey, who founded Whole Foods in 1980, (left) spoke with Robert Doar from the American Enterprise Institute (right)

The Whole Foods co-founder spoke passionately about the need for 'conscious capitalism' and slammed progressives for portraying business as 'inherently corrupt'

The Whole Foods co-founder spoke passionately about the need for 'conscious capitalism' and slammed progressives for portraying business as 'inherently corrupt'

The Whole Foods co-founder spoke passionately about the need for ‘conscious capitalism’ and slammed progressives for portraying business as ‘inherently corrupt’

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

During the interview, Mackey, who is estimated to be worth around $75million, argued that, while it is important to acknowledge ‘progressive insights’, capitalism should not be removed, Fox Business reports. 

The Whole Foods co-founder, and co-author of ‘Conscious Capitalism’, went on to blame private universities and progressives for portraying business as ‘inherently corrupt’.

‘We’ve 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. 

The 67 year old said capitalism is the 'greatest thing humanity has ever done' while claiming socialism 'impoverishes everything'. The grocery store boss, whose business is said to 'lead with love', spoke passionately about leadership and criticized those who slam capitalism.

The 67 year old said capitalism is the 'greatest thing humanity has ever done' while claiming socialism 'impoverishes everything'. The grocery store boss, whose business is said to 'lead with love', spoke passionately about leadership and criticized those who slam capitalism.

The 67 year old said capitalism is the ‘greatest thing humanity has ever done’ while claiming socialism ‘impoverishes everything’. The grocery store boss, whose business is said to ‘lead with love’, spoke passionately about leadership and criticized those who slam capitalism.

‘It’s inaccurate and doing tremendous damage to the minds of young people,’ he said.

‘Until we get this corrected, capitalism is always going to be disdained and criticized and attacked. 

‘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 argued that, while it is important to acknowledge 'progressive insights', capitalism should not be removed

Mackey argued that, while it is important to acknowledge 'progressive insights', capitalism should not be removed

Mackey argued that, while it is important to acknowledge ‘progressive insights’, capitalism should not be removed

 Instead he suggests business culture needs to evolve, to avoid the socialists ‘taking over’, which he describes the ‘path to poverty’.

‘They talk about trickle-down wealth, but socialism is trickle-up poverty. It just impoverishes everything.’ 

Mackey, who created Whole Foods in 1980 which now employs around 100,000 people and was purchased by Amazon in 2017, said he had been heckled during speeches at colleges and even had some talks cancelled. 

He suggests professors are more upset than the students and proposed there should be more ‘business people’ teaching. 

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