Conscious Capitalism: Liberating the Heroic Spirit of Business

John Mackey and Raj Sisodia (2013) (view on Amazon)

Conscious CapitalismIntroduction

In recent years, it has become fashionable to criticise capitalism, blaming it for endemic problems such as economic inequality. But this attitude ignores the enormous contributions capitalism has made in terms of improving people's lives and the overall standard of living in free market economies, according to Whole Foods Market's cofounder John Mackey. He argues that, by taking a broad view of its social and financial responsibilities, capitalism can be a powerful agent of change; further, at its best capitalism is "good, ethical, noble and heroic". In order to achieve this ideal, a business must identify its purpose; collaborate with its stakeholders (e.g. employees, customers, and suppliers) to achieve broadly beneficial goals; demonstrate leadership; and foster an ethical culture and management style.

Central argument