My only quibble is that he misunderstands the idea of firms maximizing shareholder value. Keeping your customers happy and creating the perception in the public's eye that you value other stakeholders is 100% consistent with maximizing long-run shareholder value. What else do shareholders want?
Wednesday, August 19, 2015
Whole Foods Co-Founder on "Why Intellectuals Hate Capitalism"
This is just a fantastic conversation. Nick Gillespie usually does a good job with interviews; this time he did a great job. John Mackey, co-founder of Whole Foods,
My only quibble is that he misunderstands the idea of firms maximizing shareholder value. Keeping your customers happy and creating the perception in the public's eye that you value other stakeholders is 100% consistent with maximizing long-run shareholder value. What else do shareholders want?
My only quibble is that he misunderstands the idea of firms maximizing shareholder value. Keeping your customers happy and creating the perception in the public's eye that you value other stakeholders is 100% consistent with maximizing long-run shareholder value. What else do shareholders want?
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