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Whole Foods CEO in Wall Street Journal - Business has a Noble Purpose

The guys over at Regent University noticed a great article in the Wall Street Journal about the founder of Whole Foods. I found it fascinating to see how he recognizes that business has a higher purpose. Here's the quote that stands out.

"Mr. Mackey's latest crusade involves traveling to college campuses across the country, trying to persuade young people that business, profits and capitalism aren't forces of evil. He calls his concept "conscious capitalism."

What is that? "It means that business has the potential to have a deeper purpose. I mean, Whole Foods has a deeper purpose," he says, now sounding very much like a philosopher. "Most of the companies I most admire in the world I think have a deeper purpose." He continues, "I've met a lot of successful entrepreneurs. They all started their businesses not to maximize shareholder value or money but because they were pursuing a dream."

Mr. Mackey tells me he is trying to save capitalism: "I think that business has a noble purpose. It's not that there's anything wrong with making money. It's one of the important things that business contributes to society. But it's not the sole reason that businesses exist."

What does he mean by a "noble purpose"? "It means that just like every other profession, business serves society. They produce goods and services that make people's lives better. Doctors heal the sick. Teachers educate people. Architects design buildings. Lawyers promote justice. Whole Foods puts food on people's tables and we improve people's health."

Then he adds: "And we provide jobs. And we provide capital through profits that spur improvements in the world. And we're good citizens in our communities, and we take our citizenship very seriously at Whole Foods." Read the full article here.

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posted by Justin Forman | 10.26.2009 - 7:29 AM

1 Comments:

What a great article! Mr. Mackey hits the nail on the head. Capitalism can be motivated by greed. But it can also be driven by purer motives. We live in a nation that has not only allowed but encouraged business to be a good citizen.
commented by Blogger Wesley, 4:46 PM  

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