Op-Ed: In Defense of Our Free Enterprise System

The following is an op-ed piece authored by Kentucky Chamber President and CEO Ashli Watts

Everyone has an opinion about the presidential election—some may feel optimistic, others pessimistic, and some may want to ignore it altogether.

While the Kentucky Chamber does not get involved in federal elections, the issues facing Kentucky and our nation, such as growing our economy, developing a ready workforce, and making us more competitive, are always front of mind as we ensure the business community’s voice is heard in the midst of the noise of politics.

The Chamber’s focus for this presidential election is defending the foundational significance of America’s free enterprise system, the bedrock of the greatest economy the world has ever known. However, it often seems some in national politics have soured on free enterprise and our capitalistic system.

Despite this election’s emotions and rhetoric, Americans understand that business and free enterprise are vital.   

In fact, recent polling from the U.S. Chamber of Commerce shows a majority of Americans, representing views of differing political ideologies and parties, agree that “businesses, whether large corporations or small businesses, are good for our country, helping the economy, creating jobs, and strengthening our communities.”

The survey also showed Americans prefer that the government minimize interference as businesses operate within our free market system, and voters are more likely to support pro-business candidates. 

Businesses understand and see how the free enterprise system is more than just an economic theory. It’s the lifeblood of our communities. It empowers us to pursue, innovate, create, and generate what we are passionate about and desire.  

Free enterprise drives our Commonwealth, where Kentuckians have cultivated a spirit of innovation, determination, and resilience that has made us leaders in many industries, including agriculture, manufacturing, technology, logistics, health care, of course, our signature bourbon and horse racing industries.

Free enterprise helped our state surpass two million total jobs on record last year for the first time in history. Most importantly, it provides every Kentuckian, regardless of background or circumstance, with the opportunity to achieve their vision of the American Dream.

Now, this is not to say our system is perfect. We face serious challenges and have communities in our Commonwealth that are struggling. But the government should strengthen and support our free enterprise system to lift up these communities by working with businesses and entrepreneurs to solve problems—not against them.

As we look to the future and whoever holds the White House, the business community must remain vigilant in defending our free enterprise system and reminding government leaders of the principles that have allowed us to build the world’s largest and greatest economy.

The Chamber will continue to advocate for policies that encourage entrepreneurship, reduce unnecessary regulations, and foster a competitive economy. With the guidance and support of our member businesses, the Chamber aims to make the Commonwealth the best place to live, work, and do business—the overarching goal in the Chamber’s strategic plan.

This plan provides unifying priorities that guide us as we address the state’s most pressing issues. This includes advocating for a more competitive, consumption-based tax system, developing programs and policies to improve and grow Kentucky’s workforce, producing high-quality research to impact public policy issues relevant to the business community, promoting and ensuring a pro-business legislature, and increasing access to quality child care and early childhood education. These are priorities that will benefit every Kentuckian, priorities that cannot be achieved without the foundation of our business community—free enterprise.