This is the Cato Daily Podcast for Tuesday, February 5th, 2013.

I'm Caleb Brown.

What drives entrepreneurs, according to Whole Foods founder and CEO John Mackie isn't the mere pursuit of profits, it's

the feeding of a passion.

That understanding is one of the elements of what he calls conscious capitalism.

We spoke about the idea and the book by the same name yesterday.

Milton Friedman's view is that the purpose of business is to maximize profits and shareholder value.

And I don't know. profits and shareholder value.

And I don't think that's the purpose of business.

I don't think most entrepreneurs to create their businesses do so for that reason.

It's not that they don't want to make money.

They do, but that's not their purpose.

They usually are fulfilling some type of dream, some type of passion they have,

something they want to do in the world.

And that doesn't necessarily mean they're just

they're trying to maximize profits. I mean Milton Friedman was an economist so

he wasn't an entrepreneur and so business people that actually create things think about it differently than an economist does.

I think that businesses unnecessarily has a bad reputation in the world with a Gallup most recent poll showing a 19%

approval rate for big business in America. It's only two points better than

Congress. That means 81% don't approve a big business.

And I think it's partly because the enemies of capitalism have captured the narrative that business is all about the bottom line.

It's selfish, it's greedy, and it's exploitative, and business

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