The Case for Moral Capitalism

by David Tennent - Founder, Capitol CNCT

Opening statement: American capitalism, as it exists today, is broken. A singular focus on profit is no way to sustain a business — and even less so a national economy. Restoring American prosperity means rebuilding capitalism around morality and a vision bigger than the bottom line.

One minute: Two things before I begin.

First, my definition of moral capitalism: the pursuit of profit above all else is a destructive force and correcting it requires leaders with a strong moral compass, a servant’s heart, and vision that drives them paramount to money and power.

Second, I’ll warn you: I am an idealist and I know how it comes off. But given where we are — economically, politically, morally — I'd argue that's exactly what our country needs.

Capitalism is broken and we need a solution. My solution isn't Democratic socialism, the World Economic Forum's version of ethical capitalism, or the free-trade-above-all mindset of yesteryear.

For me, the solution is a re-working of American capitalism to create a better balance between the pursuit of profit and using business as a tool to pursue visions of a better future. 

Founding father John Adams wrote while serving as our second President, "Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other."

While he’s referencing our political system, I believe it also applies to capitalism. 

In a free market system like ours where policy favors the business community, it is imperative that the leaders, at the top and bottom, operate from a solid moral foundation. Without it, capitalism turns into what most of us experience it as today. 

We see businesses that overlook employees in the name of stockholders. Businesses that cut corners to save money. Businesses that sacrifice American health to improve margins. 

The win at all cost mindset means rules are bent and the elites emerge with a sense of invincibility. 

This leads to a deserved mistrust of the business sector and without trust, you see the rise of socialist sentiment in American politics. People feel wronged by big businesses and want justice. But the solution isn’t to burn it to the ground. 

The solution has two directions. Externally, we must hold our business and political leaders to a higher moral standard and internally, do the same for ourselves.

Our political leaders must prioritize the true needs of their district over the fat donor check from a big corporation. 

Our business and political leaders must be held accountable — and face real consequences when they mistake wealth and power for invincibility. The rules apply to everyone, regardless of how much money or power you have.

At the end of the day, we get the leaders we deserve. So as individuals and as a nation, we must hold ourselves — and each other — to a higher standard. To seek truth, pursue peace, and not flinch from the cost. 

Closing Statement: If we want a return to American prosperity, our leaders must be driven by a vision bigger than power and profit — one rooted in strong moral purpose and accountability to their fellow man.