In a new video, American Enterprise Institute president Arthur Brooks calls upon business leaders to make the moral case for the free enterprise system.
“Entrepreneurs, business people, small business owners…They’re the ones that create the jobs and opportunities and growth that have always brought us back from financial crisis, but today, they need to stand up for the free enterprise system,” Brooks says in the introduction.
“Free markets and free enterprise, they need defenders. And those defenders have to be the heroes of the capitalistic system,” Brooks continues.
The conservative think tank leader released his book “The Road to Freedom” earlier this year, detailing the way to make the moral argument for free markets.
Both in his book and the video, Brooks talks about how free market proponents are great at making statistical arguments, citing GDP growth and unemployment rates. What they are missing, he says, is the compelling moral case for why free markets and free enterprise are right.
Among the issues, he emphasizes are the importance of earned success to people’s happiness, the fairness that results from the merit-based system of free enterprise, and the power of free markets to alleviate poverty.
“80 percent of the world’s worst poverty has been eradicated since 1970. How?” he asks in this new video. “Globalization, free trade, entrepreneurship, new businesses here and around the world.”
Business people do a tremendous job at solving issues related to their bottom line and making opportunities in the market. What they do not do, Brooks contends, is defend and make the moral argument for the system under which they operate.
“If you’re successful in this country, you should be proud of it, and you should spread it to other people,” Brooks concludes.
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