Rick Caruso and Oklahoma Governor Kevin Stitt Discuss Economy, Energy, Criminal Justice, and Criminal Reform at President’s Speaker Series

On Thursday, October 31, 2024, Pepperdine president Jim Gash (JD ’93) hosted a compelling conversation between two prominent figures—business leader and civic advocate Rick Caruso (JD ’83) and Oklahoma governor Kevin Stitt. Throughout the discussion, Caruso and Stitt addressed pressing issues facing Americans ahead of the 2024 election, including economic challenges and opportunities, affordable and sustainable energy, criminal justice, and criminal justice reform.

“We at Pepperdine believe that we are much more likely to find truth when we seek it together—when we are willing to ask, to listen, to search, with one another’s help,” shared Gash in his opening remarks. “That’s why I’m grateful to be joined today by two civic leaders who—while they disagree on issues of significance—are ready and willing to engage in dialogue. To seek truth, together.”

Audience at President's Speaker Series event

The discussion began by highlighting the similarities between the two speakers and examining how their backgrounds in business informed their political ambitions and leadership skills. Both Caruso and Stitt emphasized the importance of strong executive skills rooted in private-sector experience and the willingness to act decisively beyond political calculation. 

The conversation then shifted to one of the key issues in the upcoming election—America’s economic challenges and the steps the future president must take to address them. Stitt emphasized fiscal responsibility and budget management, criticizing both political parties for government spending beyond its means and the $35 Trillion national debt. He urged the next president to make controlling spending a top priority, as both sides have allowed it to escalate unchecked.

“When you devalue the dollar, you’re devaluing the American dream,” Stitt said. “We have to keep our spending within our revenue—it’s straightforward in business. But both Republicans and Democrats are spending like drunken sailors in Washington, D.C.”

Caruso agreed with this sentiment, adding “The federal government should have a balanced budget. Leadership has got to have a backbone and explain that deficit spending is dangerous.”

Both leaders addressed energy policy, promoting solutions to provide Americans with energy that is both affordable and environmentally sustainable, along with the best strategies to achieve this balance long term. Caruso stated, “The right policy on energy is making sure we have an abundant source,” acknowledging that every energy source has environmental impacts. He promoted establishing a diversified energy system that taps into multiple sources.

Rick Caruso

Although Oklahoma has historically relied on oil, gas, and coal production, Stitt highlighted the state’s extensive use of wind power and also stressed the importance of drawing from a variety of energy sources. 

“We need more of everything,” he argued. “We believe in all the reusables. We just know we need to have a baseload.”

Addressing criminal justice, Caruso advocated for tougher penalties as a means of deterring crime, emphasizing the necessity of accountability within the justice system. He explained that prolonged leniency is not only harmful to public safety but also places extra burdens on businesses, hindering their ability to thrive in an environment increasingly affected by homelessness and crime. 

“If you’re preventing the customer from going to a business, that business fails. We’ve got to have cities that allow everybody to thrive,” Caruso said. “What is predictable is preventable.”

He also advocated for education to combat crime in the future. “Just policing is not the answer; you have to give people a path to a better life.”

As a representative of a state that once had the highest incarceration rates for both men and women, Stitt said the key to reforming the criminal justice system lies in reducing recidivism and enhancing economic outcomes. He highlighted the Oklahoma Sentencing Modernization Act, viewing the 2023 legislation as essential for decreasing incarceration rates by classifying felony offenses based on severity, which makes sentencing more predictable and helps to reduce the prison population.

Oklahoma Governor Kevin Stitt

Stitt said, “We’ve closed four prisons since I’ve been governor. Oklahoma right now has the second-lowest recidivism rate in the country.”

The event continued with an audience Q-and-A session. A student currently attending Pepperdine’s international program at the Château D’Hauteville in Switzerland asked Caruso about the role of faith in informing one’s vote. Others asked about the keys to being successful, and why both continue to be impassioned about political leadership. 

Student Government Association president Myers Mentzer valued both Caruso and Stitt’s perspectives on effective political leadership, highlighting the importance of public service experience and the demonstrated ability to lead both a business and a nation.

“It’s not just about networking or knowing people; it’s about possessing the actual skill set required for the role,” shared Mentzer. “Being a hard worker and nurturing good relationships are crucial. Ultimately, it’s about hard work, being a good person, and maintaining strong connections, and trusting where the Lord will lead you with those qualities.”

For full broadcasts of Caruso and Stitt’s conversation and previous events in the series, visit the President’s Speaker Series website.