John Mackey on corporations as do-gooders

Part 54 zillion in a series of musings about capitaltruism, an excerpt from a New Yorker article about John Mackey, CEO of Whole Foods:

[Mackey] "...This is a paradigm that has polarized our country and led to bad thinking. It’s holding the nation’s progress back. It’s as if there were a wall. And on one side of the wall is this belief that not-for-profits and government exist for public service, and that they’re fundamentally altruistic, that they have a deeper purpose, and they’re doing good in the world, and they have pure motives. On the other side of the wall are corporations. And they’re just selfish and greedy. They have no purpose other than to make money. They’re a bunch of psychopaths. And I’d like to tear that wall down. Human beings are obviously self-interested. We do look after ourselves, but we’re capable of love, empathy, and compassion, and I don’t see that business is any different.”

He went on, “We’re trying to do good. And we’re trying to make money. The more money we make, the more good we can do.” By this, he had in mind not the traditional philanthropic argument that more money earned equals more to give away but, rather, that a good company—that is, his company—which sells good things and treats its employees, shareholders, customers, and suppliers well, can spread goodness simply by thriving.

This was a variation on what he calls “conscious capitalism,” which some people, smelling an oxymoron, or worse, snicker at. His idea is that business should have a higher purpose—that, just as doctors heal and teachers educate, businesspeople should be after something besides money. It may be an easier argument for a grocer to make; he feeds people, and if he feeds them properly he heals and educates them, too. But it borders on humbug when you apply it to, say, Wall Street. Consciousness, as it relates to capitalism, is in the eyes not so much of the beholder as of the capitalist.

via Kottke.
Read the whole article at your leisure.