For decades, low-and middle-income workers' wages and benefits have failed to keep up with an ever-increasing cost of living, decreasing the social well-being of millions. Income and wealth disparities have become severe and corrosive to the dream of true democratic possibility. In the wake of the recent financial crisis, the need for new economic models has been widely acknowledged. Yet reform conversations have tended to neglect serious considerations of how our economy might be reorganized to better reconcile aims of economic resilience and inclusiveness.
During this session, we will consider democratizing ownership and other business structures as a critical component of addressing economic inequality. Attendees will discuss with our panelists how philanthropy can support alternative business structures that establish workers and/or social impact as key aspects of business success, and how this can pave the way for low-income communities and communities of color to increase their ownership potential and job quality.
- The necessary ingredients for inclusive business models, how to sustain them, and their challenges
- The steps that foundations and nonprofits have taken to promote democratic business ownership and strong local economies
- The potential of leveraging anchor institutions and procurement practices to promote the growth of locally owned businesses
Laura Flanders (Moderator), Local Economies Reporting Fellow, Commonomics, YES! Magazine
Melissa Hoover, Executive Director, US Federation of Worker Coops
Andrew Kassoy, Co-founder, B-Lab
Yorman Nunez, Bronx Cooperative Development Initiative
Kelly Terry-Sepulveda, Executive Director, The Point CDC
Part of Can Philanthropy Help Shape the Next Economy? A Workshop Series for a Just Transition, in collaboration with: