Theodore Forstmann

In the viewpoint that follows, Theodore Forstmann argues that free-market capitalism is essential to a democratic society. By ensuring a free, stable environment, contends Forstmann, capitalism affirms the autonomy of the individual and prevents the government from gaining too much power. Forstmann is the founding general partner of the New York investment firm Forstmann Little & Co., and the founding chairman of Empower America, an organization that supports free-market principles.

As you read, consider the following questions:

1. As explained by Forstmann, what did America’s Founding Fathers believe was the appropriate role of government?
2. What is the central promise of capitalism, as stated by Forstmann?
3. According to the author, how does capitalism make a democratic society possible"

Editor’s note: The following viewpoint was excerpted from a speech delivered to Grant’s Political Conference in New...