For Sir John Templeton, wealth creation was no accident of history, whether for the nations of the West or for the billions of people struggling for basic necessities in the developing world. Human societies could experience general prosperity, he believed, only when they recognized and established broad principles of freedom, competition, and personal responsibility. For him, individual freedom was the indispensable foundation of economic, social, and spiritual progress.
As one of the most successful investors of modern times, Sir John understood the enormous contribution that free markets and entrepreneurship could make to material improvement. As a student of classical liberalism, from Adam Smith to Milton Friedman, he also saw that, without economic freedom, individual freedom was fragile and vulnerable. The Foundation honors this profound vision by supporting a range of programs intended to liberate the initiative of individuals and nations and to establish the necessary conditions for the success of profit-making enterprise.