Let’s get some terms on the table to guide our conversation.
Capitalism is the economic system by which private enterprise is the chief means of production and distribution of goods and services in a nation.
Socialism is an economic and political system whereby the chief means of production is controlled by the government or publicly owned.
A Commonwealth is a nation, state, or political group that is founded on law or agreement to serve the common good or to serve to the advantage of one’s self and others.
Communism is an economic and political system with a single central authority with the collective ownership of property, labor, and means of production and distribution whereby its people are required to serve the greater good or the state’s agenda.
Individualism is a belief in the primary and moral worth of the individual to make decisions, to be self-reliant, and to be free to pursue self-interest.
Collectivism is a belief placing the community’s worth, morality, and interest first.
Materialism is a belief that the personal accumulation of money and physical comfort are the chief aim of the individual, at the exclusion of spiritual or intellectual endeavors.
Idealism is a belief that the basis of all life is rooted in mind, spirit, or soul apart from the material.
Clarify your beliefs to gain deep personal insight on the social, economic, moral, and political foundations defining how you operate in the world as an individual, a partner, a parent, a friend, and a business owner or team member.
Why am I daring you as a business person to be a Commonwealth Capitalist, basically the left side of the above list? You are capable of being an even better leader of your life than you already are. Yet, if you don’t take a stand, you’ll be squashed by your ignorance. On the other hand, better understanding who you are and where you stand provides you a meaningful opportunity to tap into a even deeper anchoring of who you are being and becoming. You may love your specific choices or doubt them, or reject them with greater insight and appreciation thanks to heightened awareness about the underpinnings of your thoughts.
Capitalism is proven to be the greatest system in the world for raising the standard of living for any people group. From the Pilgrims to the Founding Fathers of the USA to today, the ideals of free enterprise, fair competition, personal responsibility, and rule of law have proven to create a prosperous nation. However, raw capitalism left unchecked leads to materialism and greed. Raw capitalism, therefore, must be checked by justice and further moderated by idealism and mercy.
A Commonwealth Capitalist is a business person who eagerly accepts personal responsibility while also embracing and acting upon the moral urging of the soul to do right by others. Their “pursuit of happiness” is not a headlong charge of individual aggrandizement and enrichment. Theirs is a shared and uplifting journey that’s the epitome of the adage “A rising tide lifts all boats.”