President Obama has no idea why free enterprise is important.

http://www.aei-ideas.org/2014/10/yet-again-obama-shows-he-doesnt-quite-get-why-free-enterprise-is-so-important-so-let-me-explain/

Free enterprise doesn’t just make us a richer people — it doesn’t just “deliver the goods” – it makes us a better people. The pursuit of profits, often at the same time the pursuit of a dream and of personal meaning, can be high purpose.
First of all, economic freedom goes hand-in-hand with political freedom. As Milton Friedman wrote in “Capitalism and Freedom”: “Viewed as a means to the end of political freedom, economic arrangements are important because of their effect on the concentration or dispersion of power. The kind of economic organization that provides economic freedom directly, namely, competitive capitalism, also promotes political freedom because it separates economic power from political power and in this way enables the one to offset the other.”