Steve Forbes discusses economic freedom and the importance of free enterprise

Steve Forbes stands by two banners that sponsored the event.

Steve Forbes speaks at the “Level-up Lunch and Learn: Pathways to Leadership” luncheon to local high school students. Photo by Angela Foster.

Two-time presidential candidate, media innovator and business executive Steve Forbes came to the University of Tennessee at Chattanooga on Thursday, Feb. 26, to discuss leadership and free enterprise.

Forbes, who ran for president in 1996 and 2000, serves as the chairman and editor-in-chief of Forbes Media. He was on the UTC campus for most of the day, speaking to various groups.

“I don’t think we could have planned it any better in terms of really maximizing his time while in Chattanooga,” said Dr. Claudia Kramer, the Scott L. Probasco Jr. Distinguished Chair of Free Enterprise.

Forbes, working in conjunction with Young America’s Foundation, was brought to campus through the Probasco Chair as part of the Burkett Miller Distinguished Lecture Series.

“The first event that he kicked the day off with was what we were calling a lunch-and-learn on leadership,” Kramer said. “It was an intimate setting where he was really just sharing his perspective, some of his history, and his advice on entrepreneurship and leadership. It was one-on-one, invaluable lessons from a man who’s built an empire.”

Among the luncheon participants were representatives from Baylor School, Soddy Daisy High School and other schools from across the region.

Forbes’ evening public lecture, “How Free Enterprise, Not Government, Made America Great,” was open to the public and marked the end of his time on campus. He discussed key factors of economic freedom through the context of America’s greatest entrepreneurs.

He discussed innovations and industry changes over the years, then held a Q&A with Kramer to conclude the night.

She said that his message was important for students to hear.

“One of my former students came up to me after the talk, and he was so gracious and thanked me for bringing him to campus,” Kramer said. “He said, ‘I feel optimistic. I’m hopeful after hearing him.’ I couldn’t ask for a better summary of what a speaker coming to campus can do for students. The world is somewhat uncertain right now for a variety of different reasons, and that’s in and of itself not necessarily bad.

“But if you don’t have hope and you’re not optimistic about your path and that you have control over it, then that can be very upsetting, damaging and cause all sorts of issues in your own personal life. To hear that someone who is coming in to talk about economics, finance and entrepreneurship ends up inspiring and giving someone hope is such a ringing endorsement.”

For senior Graham Davis, the event provided that optimism. A business management major and Innovations in Honors student in the UTC Honors College, Davis was able to ask for advice after the lecture.

“It was cool,” Davis said. “I got to meet him afterwards. I shook his hand and asked for advice. It was interesting to see somebody who’s been really successful and had their name known on a world scale and then hear some of their opinions on free enterprise and market economies.”

Forbes’ advice for students and recent graduates entering the workforce was simple: keep learning.

“Curiosity, maintain it, that’s how you learn,” he said. “Learn what you like, what you might want to specialize in. But also go out of your comfort zone, even if it doesn’t necessarily help your GPA—areas to get the mind learning how to adapt outside the comfort zone—because life is full of things that happen. The world doesn’t revolve around you. You have to sometimes adapt to what is out there. So curiosity, willingness to suffer a little bit of discomfort, but you never know when you need it.

“For example, there’s a fellow named Norman Borlaug who died years ago, but he won the Nobel Peace Prize because he developed the strain of wheat that ended famine in the world. A huge increase in output. When he started to make the breakthrough, he would tell students, ‘I majored in this area, but I had to cope with politics and economics.’ You never know what you’re going to have to draw on something in your life, so have that extra ability to be able to draw on another discipline.”