Whole Foods CEO slams socialism as 'trickle-up poverty': 'It doesn't work’

Whole Foods CEO John Mackey slammed socialism as “the path to poverty” and defended capitalism as the “greatest thing humanity’s ever done” during a recent interview.

Mackey, who is worth an estimated $75 million, made the remarks last week to the American Enterprise Institute while discussing the culture of business leadership and how he believes it needs to change to help better elevate humanity through business.

"It needs to evolve,” Mackey said of the business culture. “Otherwise, the socialists are going to take over — that's how I see it, and that's the path of poverty. They talk about trickle-down wealth, but socialism is trickle-up poverty. It just impoverishes everything. That's my fear, that the Marxists and socialists, the academic community is generally hostile to business. It always has been. This is not new."

Mackey argued that the purpose of business is to create value for others and blamed colleges and progressives for spreading the negative view of capitalism.

"That's why we're seeing this move towa... (Read more)

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