What does investing to close the racial wealth divide really require from us? Jessica Norwood and Konda Mason of the Runway Project interview Deborah Frieze and Mark Watson of the Boston Impact Initiative on the mainstage at SOCAP 18 to explore the opportunities and challenges of Investing for Justice.
Even David Brooks has joined our Localist Revolution. In his July 2018 opinion piece in The New York Times, he cites the work of BII founder Deborah Frieze in identifying how we create the conditions for local power to emerge that is “personalistic, relational, affectionate, irregular and based on a shared history of reciprocity and trust.”
In Impact Investing Can Fight Racism and Wealth Gaps–if Conducted in New Ways, Rodney Foxworth writes, “If we’re truly motivated to deconstruct the enormous wealth inequalities that have ravaged and extracted wealth from rural, indigenous, and majority communities of color, we must rid ourselves of the power dynamics, biases, and culture that got us here in the first place.” (Chronicle of Philanthropy, 2018)
In Solidarity Philanthropy: Reparations, Democracy and Power, Aaron Tanaka explores the question, “What does it take to transition American capitalism from a system for the 1% to an economy for all?” This article discusses philanthropy’s role in building true alternatives to our dominant economic regime. (Medium, 2018)
In Why I Want Community Organizers to Tell Me Where to Invest, Deborah Frieze writes that if we wish to transform our economic system from one that extracts values from communities of color to one that operates in solidarity, it’s not good enough to redirect the flow of capital. We also have to redirect the flow of power. (Next City, 2018)
In Wealth Inequality and The Fallacies of Impact Investing, Rodney Foxworth writes that if we’re truly motivated to deconstruct the wealth inequalities that have ravaged and extracted wealth from rural, indigenous, and majority people of color communities, then we must rid ourselves of the power dynamics, biases, and culture that got us here in the first place. (Medium, 2018)
Capitalism is Not the Only Choice, by Penn Loh in YES! Magazine. When everything that we label “economic” is assumed to be capitalist—transactional and market-driven—then it is no wonder that we run short on imagination. What if, instead, economy is all the ways that we meet our material needs and care for each other? Beneath the official capitalist economy are all sorts of thriving non-capitalist economies, where there may not be a profit motive or market exchange.
The Road to Zero Wealth, by Prosperity Now and the Institute for Policy Studies, examines Federal Reserve data over a 30-year period (1983-2013) to understand the growing racial wealth divide facing Black and Latino households at the median, and explores the ways that accelerating declines in wealth for these communities are impacting the American middle class.
The Next Economy Now podcast interviews Boston Impact Initiative founding partner Deborah Frieze about how to create healthy, resilient and inclusive communities by redistributing wealth from where it’s been accumulated to where it’s been extracted from.
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Boston Impact Initiative Fund
P.O. Box 300443
Jamaica Plain, MA 02130