{"id":483583,"date":"2022-08-12T01:17:37","date_gmt":"2022-08-11T22:17:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/liberals-force-companies-to-back-their-agenda\/"},"modified":"2022-08-12T01:17:37","modified_gmt":"2022-08-11T22:17:37","slug":"liberals-force-companies-to-back-their-agenda","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/liberals-force-companies-to-back-their-agenda\/","title":{"rendered":"#Liberals force companies to back their agenda"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37a59c41d61\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37a59c41d61\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/liberals-force-companies-to-back-their-agenda\/#%E2%80%9CLiberals_force_companies_to_back_their_agenda%E2%80%9D\" >&#8220;Liberals force companies to back their agenda&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CLiberals_force_companies_to_back_their_agenda%E2%80%9D\"><\/span>&#8220;Liberals force companies to back their agenda&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p>Whole Foods founder John Mackey is a well-known libertarian who is outspoken in defending free markets and capitalism. He also founded a business management movement called Conscious Capitalism. Now, as he\u2019s set to retire next month, he regrets if Conscious Capitalism inadvertently pushed some companies toward bullying Environmental, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> and Governance (ESG) trends.<\/p>\n<p>Conscious Capitalism was created by Mackey and Babson College marketing professor Raj Sisodia. It includes an illuminating book and an annual conference of high-powered CEOs, entrepreneurs and policymakers. The premise behind Conscious Capitalism is that businesses should operate ethically while they pursue profits in a business that makes society better. Their four guiding principles include higher purpose, stakeholder orientation, conscious leadership, and conscious culture. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"706\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/20220809_zaa_nc25_005.jpg?w=1024\" alt=\"Whole Foods\" class=\"wp-image-23427947\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/20220809_zaa_nc25_005.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/20220809_zaa_nc25_005.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/20220809_zaa_nc25_005.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/20220809_zaa_nc25_005.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Consumer harm standards are currently under assault by the Biden administration.<\/figcaption><figcaption><span class=\"credit\">ZUMAPRESS.com\/Richard B. Levine<\/span><\/figcaption><\/figure>\n<p>I recently spoke with Mackey at FreedomFest, an annual libertarian gathering in Las Vegas. By \u201cconscious,\u201d Mackey told me he means creating a positive work environment with a business objective that is good for society. <\/p>\n<p>So in his case, Mackey says he created Whole Foods with the objective to nourish people with healthy food, which makes it an inherently aspirational business model. Mackey sold Whole Foods to Amazon in 2017, and he plans to retire on September 1 from the grocery chain he founded in 1980.<\/p>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>\u201cIt\u2019s very hard to sell people on, \u2018Hey, your job at Whole Foods is to make as much money for the shareholders as possible,\u2019 \u201d he said. \u201cThat\u2019s, that\u2019s not aspirational, and every business has potential for a higher purpose besides maximizing profits. And that comes in because ultimately the purpose of business is to create value for customers \u2014 goods and services that other people want to buy. That\u2019s the essence of business. And so the higher purpose of the business will come from that type of value creation.\u201d<\/p>\n<p>Mackey believes businesses should have a purpose beyond simply making money. Proponents of ESG rules would say the same thing. But Mackey says Conscious Capitalism is voluntary management practices, while ESG imposes forcible mandates on businesses that might not be best for the business. For example, ESG would impose green energy or gender or racial diversity mandates on board composition. But \u2014 according to Mackey \u2014 Conscious Capitalism would not mandate this because it might end up harming customers and the company\u2019s higher purpose.<\/p>\n<p>The standard of \u201cconsumer harm\u201d Mackey touches on is a decades-old lens that examines whether a business action \u2014 often a merger, for example \u2014 harms consumers, the ultimate audience. Consumer harm standards are currently under assault by the Biden administration, whose Federal Trade Commission chair Lina Khan is engaging in an illegal, unproven, intellectually thin, Marxist overreach, trying to tear down capitalism in ways that will make poor and middle-class families suffer even more under crippling inflation. <\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>ESG also erodes the standard of consumer harm. \u201cESG is basically not a management philosophy,\u201d Mackey said. \u201cThey\u2019re trying to force certain political values down the throats of all businesses, their own values, their own personal values that they believe should be done. So their own environmental values, their own values about diversity, race. Their own values about equality and equity. But mostly it\u2019s about power. They don\u2019t want investors to have control of their businesses. . . . Insofar as Conscious Capitalism influenced people to do this, then I regret it. I think the owners control businesses, not intellectuals, not government bureaucrats, people that actually understand the business and can consciously run those businesses in ways that will create more value.\u201d<\/p>\n<p>Mackey told me the outcome of whether ESG is just a passing craze or one with more broad permanence will depend on the level of pushback.<\/p>\n<p>We are seeing pushback against ESG, including from investment firms Strive Asset Management, Amberwave Partners, and also the State Financial Officers Foundation (SFOF) \u2014 a group comprised of 23 state treasurers managing trillions of dollars in state budgets and retirement funds. Mackey says he supports pushing back and encourages these types of groups to be \u201ctenacious.\u201d<\/p>\n<p>SFOF President Derek Kreifels told me he\u2019s glad that Mackey is speaking out about the stark difference between voluntary business management ethics and involuntary, partisan ESG mandates.<\/p>\n<p>\u201cSFOF takes Mackey\u2019s advice to heart,\u201d Kreifels said. \u201cIt\u2019s wrong to forcibly take retirees\u2019 and other shareholders\u2019 money and invest it in partisan agendas that deliver subpar results and don\u2019t align with investors\u2019 values. We plan to \u2018tenaciously\u2019 continue our work to ensure markets operate freely and deliver the best returns, especially for vulnerable retirees.\u201d<\/p>\n<p><em>Carrie Sheffield is a senior policy analyst at Independent Women\u2019s Voice and a fellow at State Financial Officers Foundation.<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/08\/11\/whole-foods-john-mackey-liberals-force-companies-to-back-their-agenda\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Liberals force companies to back their agenda&#8221; Whole Foods founder John Mackey is a well-known libertarian who is outspoken in defending free markets and capitalism. He also founded a business management movement called Conscious Capitalism. Now, as he\u2019s set to retire next month, he regrets if Conscious Capitalism inadvertently pushed some companies toward bullying Environmental,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":483584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/08\/newspress-collage-23427523-1660254847815.jpg?quality=75&strip=all&1660240495&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[132232,70509,67817,32681,74493,78972],"class_list":["post-483583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-11-22","tag-food","tag-liberals","tag-politics","tag-whole-foods","tag-whole-foods-market"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=483583"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/483583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/483584"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=483583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=483583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=483583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}