Humanistic capitalism is a concept that seeks to unite humanism, specifically the safety and health needs of people and the environment, with market forces and a market-based economy.
[7] Tolbert described his form of "Humanistic Capitalism" as a combination of free enterprise, the traditional altruistic way of life in Africa and Christian morals and values (He dubbed the latter two components as "Humanism").
[8][9] He declared in his annual address to parliament in January 1977: "Humanistic Capitalism has as its primary concern and central interest the individual person whose value, worth and dignity must be considered supreme, and should never be exploited in any manner, but rather ever respected and protected.
"[10] He admonished the wealthy people (the Americo-Liberian elite) to invest part of their wealth or profits of their companies in projects to help the impoverished masses of Liberia by raising their standard of living.
[11] By creating a larger entrepreneurial middle class, the country would become less dependent on foreign investors and Liberia would achieve some sort of self-reliance (although Tolbert – a successful businessman himself – remained committed to free trade).