Amid the historic labor shortage the U.S. is experiencing, Home Depot co-founder Bernie Marcus has offered an explanation as to why the U.S. is struggling in that regard. According to the billionaire businessman, nobody works anymore.
'Woke people have taken over': Home Depot's billionaire co-founder Bernie Marcus is worried about capitalism https://t.co/QSETVRMx79
— National Post (@nationalpost) December 29, 2022
In an interview with the Financial Times, Marcus chalked the labor shortage to the outcome of socialism. “Nobody gives a damn,” he said, adding that many have the “Just give it to me. Send me money. I don’t want to work. I’m too lazy. I’m too fat. I’m too stupid” attitude.
After the pandemic caused a major disruption in America’s labor force, leaving more than 47 million workers quitting their jobs, companies all over the country have been struggling to find workers.
The healthcare, transportation, accommodation, and food industries are the most impacted and despite efforts to curb the problem, it is only growing under policies introduced by the Biden administration.
While there have been various speculations as to the cause of the growing problem, the culprit for Marcus is socialism, as he stands on his beliefs that the leftism theory killed motivation to work even though he understands his beliefs are “unpopular.”
Marcus further spoke about his fears for capitalism. According to him, the rise of woke culture constitutes a danger to the success of profit-seeking businesses. The 93-year-old posited that capitalism is the basis of many businesses through which many are enriched. “Capitalism is the basis of Home Depot, [and] millions of people have earned this success and had success,” he explained.
“I’m talking manufacturers, vendors and distributors, and people that work for us [who have been] able to enrich themselves by the journey of Home Depot. That’s the success. That’s why capitalism works,” he added.
Bringing the establishment of Home Depot to recent times, Marcus said he and co-founder Arthur Blank might not have seen much success. “We could end up with 15, 16 stores. I don’t know that we could go further,” he stated. That estimation is far from the count of 2300 large stores the company currently has spread across North America.
While Marcus believes that successful businesses have been founded in recent times, he is afraid that the U.S. today lacks the incentive for business owners to take the risks he and Blank took when they started Home Depot with two stores in Atlanta, Georgia, in 1979.
Marcus, having experienced the loss of free speech in America after his support of Donald Trump’s presidential campaigns triggered calls for the boycott of Home Depot, knows his views will not be widely accepted. That is another source of his fear as he muses over how “the woke people have taken over the world.”