Columbia University Press
Capital and the Common Good
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Reviews
Robert J. Shiller:
Ms. Keohane has many ideas that could do much good and could conceivably be pursued much further under a business-oriented president.
An impressively written, organized and presented study.... A critically important and seminal work of exceptional scholarship that is unreservedly recommended, especially for community and academic library Contemporary Economics collections and supplemental studies reading lists.
An enlightening choice, the likely audience of which is finance and economic development professionals.
Brenda Jubin:
[Capital and the Common Good] shows that finance can be, and often is, allied with the interests of the public good.
Ben Mangan, executive director, Center for Social Sector Leadership, Haas School of Business, Berkeley:
Keohane is an engaging writer, a strong storyteller, an incisive and expansive thinker, and has, in this book, provided an unprecedented collection of innovative finance approaches for social impact.
Sheryl WuDunn, Pulitzer Prize–winning journalist, author of A Path Appears and Half the Sky:
With the wave of some visible hands, innovative financiers are turning their skills and tools to poverty, global health, and climate change. Keohane dives into this work with relish, detail, and insight—guiding us deftly through the complex world of impact investing.
Sonal Shah, executive director, Beeck Center for Social Impact & Innovation:
Keohane shows how market-based solutions can be applied to some of our most pressing global challenges through public-private partnerships. She does an excellent job of bridging the world of academia, finance, philanthropy, and policy, providing examples of some of the most impactful partnerships.
Philippe Douste-Blazy, under-secretary-general and special adviser on innovative financing for development, United Nations:
Development assistance and philanthropy are vital resources in the campaign to solve the world's big developmental and social issues. But they are not enough. There has never been a greater need for innovative finance to meet the scale of economic and social disparities. In this exceptional work, Keohane shows us how we can make capitalism work better for all.
Robert E. Rubin, cochairman of the Council on Foreign Relations and former U.S. Treasury Secretary:
Georgia Levenson Keohane weaves together case studies from around the globe that illustrate the immense potential of market mechanisms to more effectively use public, philanthropic, and private sector funds to address the world's seismic challenges. Capital and the Common Good should be read by policy makers, philanthropic funders, and private investors alike—anyone looking for practical approaches to improve outcomes on the pressing issues of our day, from climate change to public health to economic inequality to urban revitalization.
Robert J. Shiller, Nobel Laureate in Economics:
Capital and the Common Good shows we are living in a time where financial tools can expand to solve some of the world's most vexing problems. This book is packed with information and inspiration.
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Frontmatter
i -
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Contents
vii -
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Acknowledgments
ix -
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Introduction: Innovative Finance and the Visible Hand
1 -
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REDD Forests, Green Bonds, and the Price of Carbon
25 -
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2. Health: Medicine for Market Failure
53 -
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3. Financial Inclusion and Access to Capital
87 -
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4. Toward a New Disaster Finance: Redefining Risk, Response, and Resilience
120 -
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5. Innovative Finance in Communities Across the United States
148 -
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Conclusion: Financing the Future: The Lessons of Innovative Finance and the TIES That Bind
179 -
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Epilogue: The Road Ahead
195 -
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Notes
201 -
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Index
235