Conscious Capitalism

Unconscious capitalism is when you take too many Ambien and wake up to find out you have started a textile empire, while exploiting the working class.

But...conscious capitalism different. Conscious capitalism as a term became popular in a book by Whole Foods founder John Mackey and his partner Rajendra Sisodia. Any guesses as to the title?

That's right: it's called Conscious Capitalism.

But the subtitle is instructive in defining the concept. The second part of the book's title says: “Liberating the Heroic Spirit of Business.” The basic idea is that more people are involved in a capitalist enterprise than the people who own the means of production.

Specifically, Mackey and Sisodia talk about a number of “stakeholders,” including the owners and investors (of course), along with customers, suppliers, employees, suppliers, communities in general, and the natural environment.

The “conscious” part of “conscious capitalism” states that companies should keep all these interests in mind (be conscious of them, as it were) and take them into account when making decisions.