What is Conscious Capitalism?

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When I first began reading Conscious Capitalism, the first question that came to mind was: What does the term conscious capitalism mean?  We are all familiar with the term capitalism, because it is the driving force of the economy in which we interact with everyday. We are also all familiar with the recent recession and tough breaks our economy has been through. Naturally, some people will question the idea of capitalism — they wonder if it is helping or hurting our current economic state.  Mackey and Sisodia are very aware of the apprehension circling within society; this apprehension is what inspired them create an idea represented by the name “Conscious Capitalism.”

Bill George, the author of the foreword to Conscious Capitalism, applauds Mackey and Sisodia for writing this book in efforts to return capitalism to its roots. George describes conscious capitalism as “the only authentic form of capitalism.” He believes that this authentic form of capitalism is the only way to to build a successful business that benefits its customers, employees, investors, communities, suppliers, and the environment. He believes that the current interpretation of the term capitalism has caused entrepreneurs and businesses to drift away from these important aspects of authentic capitalism and more toward a profit driven and money crazed form of capitalism. George summarizes his ideas on this profit driven and money crazed form of capitalism when he writes, “Just as people cannot live without eating, so a business cannot live without profits. But most people don’t live to eat, and neither must businesses live just to make profits.” This statement is an analogy for the basic idea of conscious capitalism. 

John Mackey is the author of the introduction where he briefs the reader on what the remainder of this book entails. He tells us that he and his fellow co-author reveal four core components to conscious capitalism, they include: purpose, recognizing the importance of each major and secondary stakeholder, conscious leadership, and conscious culture and management. Each of these components are essential to conscious capitalism because they allow entrepreneurs and CEO’s to regain the roots of capitalism for their business.

 

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