The-Morality-of-Capitalism-PDF

our society are motivated by purpose, beyond a narrow interpretationof purpose as restricted to maximizing profits. Doctors aresome of the highest paid people in our society and yet doctorshave a purpose—to heal people—and that’s the professionalethics taught in medical school. That’s not to say that there areno greedy doctors out there, but at least many of the doctorsI’ve known do genuinely care about their patients and try toheal them when they’re sick. Teachers try to educate people andarchitects design buildings and lawyers—once you’ve taken allthe lawyer jokes out of the equation—are attempting to promotejustice and fairness in our society. Every profession has a purposebeyond maximizing profits and so does business. Whole Foods isa grocer, so we’re selling high-quality natural and organic foodsfor people and helping them to live healthier and longer lives.Palmer: And the second principle?Mackey: The second principle of conscious capitalism is thestakeholder principle, which I alluded to earlier, which is that youshould think about the different stakeholders for which a businesscreates value and who can impact a business. You should thinkabout the complexity of your business in the attempt to createvalue for all of these interdependent stakeholders—customers,employees, suppliers, investors, and communities.The third principle is that a business needs leaders who arehighly ethical and who put the purpose of the business first.They attempt to serve that purpose and they attempt to followthe stakeholder principle. So they have to walk the talk of thebusiness.And the fourth principle of conscious capitalism is that youhave to create a culture that supports purpose, stakeholders, andleadership, so that it all fits together.Palmer: Do those principles motivate you personally when youget up in the morning? Do you say, “I’m going to make anotherdollar” or “I’m going to be true to my core principles”?18