The Student News Site of Tarrant County College

The Collegian

The Student News Site of Tarrant County College

The Collegian

The Student News Site of Tarrant County College

The Collegian

Viewpoint – US should embrace conscious capitalism

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By Annette Kirk/campus editor

The U.S. is in a state of turmoil and disarray, and its citizens are fighting for change, but what is the best change for them?

This year showed a major split in political parties. Democrats want universal health care, free college and a higher living wage while Republicans focus on tax reform.

Both practices are derived from two distinct theories, socialism and capitalism, though it seems neither of these theories are the right fit for the people. With capitalism, citizens fear that monopolies will occur, and business owners will not compensate employees as profits grow. With socialism, there could be too much control, and the country will end up in mass poverty.

In recent years, some have pushed toward a revised theory developed by Whole Foods owner John Mackey and his research partner Raj Sisodia. These thought leaders created and developed conscious capitalism. The ideology goes in a different direction than what Nobel Prize-winning economist Milton Friedman said about capitalism that the only responsibility for a business was to increase its profits, and that any company who cared for its employees were socialists.

This stringent view is part of the reason why the U.S. has large wage gaps between socioeconomic classes and why it is difficult for people who have had hardships to escape. Working for a company who practices conscious capitalism means having a work environment that cares for its employees. Conscious capitalism also promotes serving its community by getting involved with local charities.

With this method, the economy has the potential to grow. If more money is returned to the employees, they, in return, have more money to spend, which allows for growth.

This has become a growing business model trend among corporate headquarters around the U.S. Many companies practice it such as At Home and Target. Research shows a trend that these companies have a greater return in their original investment than companies that practice the approach of only turning profits.

If the U.S. adopts this ideology, the opportunity for change would come easier and the return investment would grow tenfold.

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