The Financial Times is your trusted guide to the new normal. In an era of disruption and fragmentation, our journalism helps you find opportunity and manage strategic risk so your business can adapt and thrive. We identify the stories that matter, holding the powerful to account. And we challenge you - leaders in the boardroom and beyond - to protect the future of free enterprise and wealth creation by pursuing profit with purpose. This is the new agenda.
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The Financial Times believes in free enterprise capitalism. It is the foundation for the creation of wealth which provides more jobs, more money and more taxes.
The liberal capitalist model has delivered peace, prosperity and technological progress for the past 50 years, dramatically reducing poverty and raising living standards throughout the world.
But, in the decade since the global financial crisis, the model has come under strain, particularly the focus on maximising profits and shareholder value. These principles of good business are necessary but not sufficient.
The long-term health of free enterprise capitalism will depend on delivering profit with purpose. Companies will come to understand that this combination serves their self-interest as well as their customers and employees. Without change, the prescription risks being far more painful.
Free enterprise capitalism has shown a remarkable capacity to reinvent itself. At times, as the historian and politician Thomas Babington Macaulay wisely noted, it is necessary to reform in order to preserve. Today, the world has reached that moment. It is time for a reset.