Capitalism Needs More Owners, Not Fewer

The Heart of the Debate

When I first heard the chorus of voices calling for a reimagining of capitalism, my instinct was to listen carefully. After all, as someone who has covered business and economic policy for years, I know how much innovation and opportunity this system can generate. But what struck me most wasn't the criticism—it was the quiet frustration behind it. In 2025, Gallup found that only 54% of Americans view capitalism positively. That's not just a number; it's a wake-up call.

It's easy to fall into the trap of thinking that the debate is simply about choosing between two extremes—capitalism or socialism. But that's a false choice. We can preserve the spirit of entrepreneurship, competition, and private enterprise while ensuring that more people benefit from their efforts.

"The problem isn't capitalism. It's ownership."

The Problem of Ownership

Capitalism has given us incredible innovations, jobs, and growth. Yet when the fruits of that labor aren't shared widely, people start questioning whether it's all worth it. This is where many Americans are today. They're working hard in an economy that's growing—but they don't feel like they're part of that success.

That's not just unfair; it's unsustainable. We've seen this before—when workers lose sight of their stake in the enterprise, they start looking for alternatives. That alternative is often a call for more government control or even socialism. But what if we could preserve capitalism while giving more people real ownership?

Real Solutions: Broadening Participation

The idea isn't new. Across the globe, cooperative and member-owned businesses already demonstrate how this can work. The International Cooperative Alliance reports that at least 12% of the world's population participates in cooperatives, with 300 major ones generating $2.79 trillion in turnover in 2023 alone.

That kind of scale shows us what's possible. These aren't small-scale experiments—they're serious economic forces that can coexist with traditional business models. So why haven't we seen more of this here at home?

• Cooperative structures allow employees, producers, and participants to share directly in the profits they help create.
• They're not government-run; they're private enterprise with more owners.
• They provide a bridge between worker ownership and traditional capitalism.

This model isn't about dismantling markets or stifling innovation—it's about ensuring those who contribute the most also benefit the most. And if we can do that, we'll see more people participating in—and believing in—the system.

Capitalism with a Conscience

I believe that true capitalism is more than just profits and competition. It's about empowering people to take part in economic progress. When employees get a stake in the company they work for, when consumers own their credit unions or housing co-ops, when communities build local businesses with shared ownership—they're not just participating; they're building a better future.

That's not charity or handouts—it's participation. And it's what gives capitalism its truest strength: the belief that anyone can rise through effort and opportunity. But right now, too many Americans are left out of that equation.

A Call to Action

We need policy changes that encourage broader ownership. For example, large employers should be required to disclose how much of their equity or profit-sharing benefits reach non-executive workers. Boards and investors should evaluate these metrics alongside traditional financial performance.

Lawmakers also need to remove tax and financing barriers that make cooperative and member-owned enterprises less attractive than traditional structures. If we want a system that works for everyone, not just the wealthy, we have to change the rules so more players can join in.

The next time you hear someone say they're tired of capitalism, remember: it's not about the system itself—it's about who gets to be a part of it. Capitalism doesn't need fewer winners. It needs more owners.