“Adam Smith, the author of “Wealth of the Nations” and the man many consider to be free enterprise’s founding father saw, “business as personal and human because it was animated by a ‘moral sentiment.’
In fact, Smith was an 18th century moral philosopher, and he never used the word ‘capitalism.’ Instead, he talked about a system of natural liberties, and trade animated by moral consciousness. By doing so, Smith laid a moral foundation for capitalism.
He understood that a company, as a system, would succeed based on its ability to scale and systematize liberty- the right kind of liberty. That means not just Freedom From tyranny, but the Freedom To innovate, to fail with the fear of disproportionate consequences…
This is what a free enterprise is all about. And free enterprise is what capitalism, as it was originally intended is all about. Yes, capitalism still is our best hope for a brighter future.”
To read the rest of Dov Sediman’s Forbes article- “It’s Time to Put Freedom Back Into Free Enterprise”- click HERE.
Dov Seidman is the author of HOW: Why HOW We Do Anything Means Everything. He is the founder and CEO of LRN. He career is focused on how companies can operate in a both a principled and profitable way.