By Living Cities
We are at a unique moment in time where we need to harness capitalism and private capital in new and transformative ways to close racial gaps in income and wealth.
Capitalism and private capital have always played a central role in Living Cities’ strategies. While an increasing number of foundations are intentionally blending grants and investments together to drive social change today, Living Cities has been doing it since our inception in 1991. With foundations and financial institutions making up our membership and governing body, we have always looked for new ways to use precious grant dollars to unlock market forces and more plentiful, private capital, for good. As we commit, as a collaborative, to closing the racial income and wealth gaps, we must expand our experimentation and investments in harnessing the forces of capitalism and the scale that private capital enables towards those ends.Read Article