The Heritage Foundation has announced the launch of its Free Enterprise Initiative, expanding on its previous Capital Markets Initiative and bringing in new staff to support economic freedom.
According to the organization, the Free Enterprise Initiative is based on the belief that Americans prosper when they have the freedom to work and build businesses in an economy that rewards service and value creation. The initiative emphasizes respect for private property, business growth opportunities, and an economic system that supports families.
Heritage Foundation President Dr. Kevin Roberts welcomed several new hires as part of this expansion. “There is a growing appetite for restoring integrity, accountability, and common sense to corporate America and our financial markets. DEI and ESG are in retreat—but the work is far from finished. As ideological agendas continue to oppose traditional American values and put shareholders at risk, more bold leadership and serious policy engagement are needed. We are pleased to expand this effort by welcoming new, nationally recognized experts and launching the Free Enterprise Initiative. Stefan Padfield, Steve Soukup, and Esther Bouquet will help us expand our work to defend free enterprise as the foundation of opportunity, family formation, and human flourishing—ensuring that markets once again serve the American people, not political interests, or centralized power.”
The transition from the Capital Markets Initiative to the broader Free Enterprise Initiative signals a commitment by Heritage to promote these principles throughout all sectors of the economy.
Andy Olivastro, chief advancement officer at Heritage, stated: “The Free Enterprise Initiative will defend this vision with the same rigor we have always brought to our work, now with an even broader mandate—because free enterprise is not merely an economic model, but a pillar of ordered liberty, a protector of family formation, and a cornerstone of American renewal. In the years ahead, defending it will be essential to securing a new American Golden Age.”
Stefan Padfield joins Heritage after serving as executive director at another free enterprise-focused project. Steve Soukup brings experience as vice president and publisher at The Political Forum. Esther Bouquet previously worked as a Project Associate at the National Center for Public Policy Research.
Allen Mendenhall serves as senior advisor for this initiative. He commented: “We are excited to welcome Stefan Padfield, Steve Soukup, and Esther Bouquet to the Free Enterprise Initiative. Their combined experience will provide the expertise and vision needed to strengthen our work and allows us to expand the Initiative’s reach, defending free markets that not only drive economic growth but also support families and uphold the principles of American renewal. At a time when the future of our economy and the prosperity of our communities are at stake, their leadership will help ensure that our mission to advance economic freedom continues.”
Padfield said about his new role: “I thank God for the opportunity to join The Heritage Foundation in its fight against the corruption of American corporations by leftist agitators. Heritage’s Four Cornerstones for building a stronger America apply directly to the work I intend to do here with my new colleagues, together with a broad coalition of like-minded patriots. By embracing the leftist agendas that are at the root of ESG and DEI, corporations have been undermining the American family, meritocratic free enterprise, national security, and national pride. And while some of that destructive agenda has been exposed, and some of its proponents are in retreat, we have only achieved the corporate governance equivalent of taking Normandy Beach. There is so much more work to be done to get our corporations back to neutral and back to supporting a strong and thriving America, and I am looking forward to being a part of the team doing that work here at Heritage.”
Bouquet noted her focus on shareholder rights: “I’m excited to join The Heritage Foundation to continue advancing the case for strong corporate governance that respects shareholder rights. When companies shut out meaningful shareholder engagement, they undermine trust and invite heavier regulation. Heritage is the right place to keep making the case that transparency, accountability, and alignment between management and shareholders are essential to healthy markets.”
Soukup reflected on his involvement: “I am excited and honored to be a part of The Heritage Foundation’s Free Enterprise Initiative. I have been involved in discussions surrounding this unique and innovative research enterprise for almost a year now, and I am thrilled to see all that work and cooperation coming to fruition. I am also thrilled to have the opportunity to work with people I admire very much including my friends Andy Olivastro and Allen Mendenhall who have been actively and assertively striving to help depoliticize business and markets for years and who were early supporters of my own efforts to pushback against the political distortion of American free enterprise back when supporters were few and far between.I am confident that with the team Heritage is putting together for this increasingly vital endeavor,we will do everything that can possibly be done not merely to resist current risks,but also to identify and provide early warnings about future threats to free and fair capital markets.”
This campaign builds on earlier efforts by The Heritage Foundation which included coalition-building activities with groups such as Heritage Action for America; developing model legislation; awarding grants aimed at fostering innovation; as well as aligning investment strategies within its portfolio.
