Exploring Free Enterprise

Explore Free Enterprise Through Morgan Foundation's 2026 Free Enterprise Speaker Series!  This fall's speaker series will bring together educators, students, entrepreneurs and community members for a wide-ranging exploration of the ideas and principles that shape a free enterprise system.

Running from September through December, the series features programs presented in partnership with Ashland University, the Ashbrook Center, the Barker Center for Economic Education at the University of Akron, and the Foundation for Teaching Economics. Sessions will examine free enterprise from multiple perspectives, including economics, entrepreneurship, ethics, public policy, education, history and global markets.

By partnering with leading educators and institutions, we aim to spark curiosity, deepen understanding, and inspire action around the system that empowers individuals to innovate, build, and thrive.

Check our Events webpage to see full description and registration information for each event.

Championing the Free Market System

Our founder, Burt Morgan, believed strongly in the importance of free enterprise, declaring that “the Foundation’s aim is to preserve the private enterprise system, which is America’s number one advantage over the rest of the world.” Burton D. Morgan Foundation champions free enterprise and seeks opportunities to educate others about its principles and its value to society.

The free enterprise system stands as a cornerstone of modern society, empowering individuals, fostering innovation, and spurring economic growth.  At its core, this system promotes private ownership, principles of open markets, and minimal government intervention. Its significance lies in the way it stimulates competition, encourages entrepreneurship, and drives progress across various facets of life.

Individual Empowerment 

Individual empowerment is another critical aspect of the free enterprise system. It enables individuals to pursue their aspirations and take ownership of their economic destinies. Entrepreneurs can turn their ideas into reality, creating businesses that cater to societal needs and desires. This empowerment fosters a sense of initiative, self-reliance, and accountability, which are essential values for a vibrant and resilient society.

Business Empowerment

The free enterprise system encourages societal resilience and adaptability. Its decentralized nature allows for flexibility and adaptation to changing circumstances. Businesses can respond swiftly to market demands, innovate in times of crisis, and explore new opportunities, contributing to a more resilient economy and society as a whole.

Innovation

One of its fundamental advantages is the encouragement of innovation. In a free enterprise system, individuals and businesses are motivated to innovate and develop new ideas to stay competitive. This drive for innovation fuels technological advancements, leading to groundbreaking discoveries, improved products, and more efficient services. As a result, society benefits from a continuous cycle of progress, where each innovation paves the way for the next, elevating standards of living and creating new opportunities.

Economic Growth

The free enterprise system serves as a catalyst for economic growth. By allowing businesses to operate with minimal restrictions, it fosters a dynamic environment where supply and demand determine prices and production. This competition drives efficiency, lowers costs, and expands consumer choices. Small businesses can flourish alongside larger corporations, fostering diversity and providing employment opportunities that support communities and economies on local, national, and global scales.

In a nutshell, this is what free enterprise means to us:

Free enterprise gives people the freedom to discover, innovate, compete, and act upon their ideas. It enables individuals to pursue opportunity, achieve financial independence, and create value for others.

We believe free enterprise is a powerful engine of American ingenuity. By unlocking human potential, it drives economic and societal progress and helps generate solutions to some of the world’s greatest challenges.

The Essential Elements of Free Enterprise

  • Individuals have equal rights to own private property, make financial choices, and shape their economic futures.
  • Businesses are free to respond to market needs, earn a profit, and exchange goods and services.
  • Markets foster competition, voluntary exchange, and broad access to participation.
  • Government protects access to the free enterprise system, enforces property rights and contracts, and helps ensure fair competition.