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The Boston Globe

Business

Capitalism gets a bad rap, Whole Foods CEO says

Whole Foods chief calls criticism unfair

Whole Foods Market cochief executive John Mackey, not known for muffling his opinions, says US businesses are “under attack” from critics who unfairly malign capitalism.

Speaking at a Greater Boston Chamber of Commerce breakfast Thursday, Mackey said the public perception of how most companies operate is out of line with reality.

Comments

Obamacare 'fascism' and global warming good ??

It isnt the public perception of private enterprises that is out of line with reality.  Mackey belongs, by his own choice, in the back seat of the Republican Clown Car with the Gold Standard, hate crowd of knuckledragging bible thumpers.  

What a surprise that he views everything he does daily as the best thing since sliced bread.

How amazing that he appears at a chamber of commerce book promo spewing this type of backslapping treacle.  The amazing thing is that the Globe just reported it as if the press release were journalism.  Pathetic but underscores the way in which the Globe cant escape its own business biases.  Doesnt even see them.

Somebody who has insulated himself from the costs of capitalism as well as Mr. Mackey has is not really in a position to comment on those costs.

This guy equates the creation of "value" (commodities) as inherently good.  What about all the waste that comes with these commodities.  Not to mention the brain-washing (marketing) that has gone on to convince people that the accumulation of stuff is more important than their relations with their fellow humans.  There is no conceivable way that the planet can survive the laws of capitalism that demand expansion or death. A new system is needed.  One that values people over profit. One that equitably plans the distribution of wealth to eliminate hunger, poverty, and disease.  Corporate apologists claim that people are inherently lazy (the 47%?) and socialism makes them lazier. I disagree.  It's capitalism makes people value getting something for nothing.  Those who do little work own...those that do all the work struggle.  A new system that flips this relationship and demands that all people have the right to a job will set the basis for changing how people look at their responsibility to the common good.  Something that no self-respecting capitalist has ever cared much about.

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as the saying goes, after scratching my head, I have to say "Only in America"

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The funny part is, you will find most people who shop at his stores are at the polar opposite of his political views.  Whole Foods thrives because of the tree hugger, limosine liberal set who shop there.

I too think about how glorious capitalism is when I step into the Whole Foods produce department and see the perfectly stacked, shiny red apples priced at twice what they sell for at your neighborhood Stop & Shop.

What Mackey has done with Whole Foods is to take the whole philosophy of the food co-op, which began as the (oat) grain of an idea in chuch basements in the 60's and 70's, and given flower to it throughout the country. But like every flower that wilts and dies, capitalism also goes through its throes.

Both products and companies have a shelf date. And despite Mr. Mackey's infatuation with the glories of his version of capitalism, one day Whole Foods will wither and die, replaced by the better executed plan of a more vividly conceived dream. Likely, it will not be a fascist dream, but one also rooted in the capitalist tradition.

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The problem is Whole Foods products are NOT better than Russo's and cost twice as much. He's so caught up in promoting himself, he's forgotten what made the stores sucessful in the first place. 

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Capitalism is a good thing when not abused.  The profit motive indeed helps to drive efficiency.  Don't you work harder if you know you can make more money doing so?  The problem is that so many in control abuse the privilege.  CEOs often take short-term actions despite negative long-term consequences.  CEOs should be compensated for long-term performance.  And I mean long-term, like after 10 years.  Sure, provide some short-term compensation.  While a CEO who retires is no longer in control, why not be held accountable for building a long-lasting brand or product and for hiring people who also will foster a long-term view.  No, the system is corrupt, and has become more so.  It would be easy for Boards to incent CEOs to take a long-term view, but Board members, too, are a part of the corruption and gain from the same short-term incentives.

A lot of these whiny comments prove Mackey is correct. The guy's a successful businessman who sells good food at decent prices and treats his employees well. He isn't friends with a terrorist like Bill Ayers and hasn't patronized underaged Dominican hookers. And yet he remains a target for the bedwetters.

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Bill Ayers?  really??

 

smear time ... a wonder Obama isnt blamed for anti-capitalism as Roosevelt was ... after all, they each did more on one of their days than this pontificator, Sir Mackey, our newest self-appointed overlord.  

I'm surprised no one has written the average worker's lament about Whole Foods.  That being, "Whole Foods, Whole Paycheck."