In this guide to using high finance to address the world’s ills, Georgia Levenson Keohane, executive director of the social-issues-oriented Pershing Square Foundation, comes across as both an idealist and a pragmatist. Keohane explains how financial innovators can help the world’s poor through such instruments as microfinance, microinsurance, green bonds and “vaccine bonds.” She calls for a “visible hand” that takes a middle path between government intervention and free market capitalism. getAbstract recommends Keohane’s smart, encouraging report to financial professionals and to readers interested in fresh approaches to beating poverty.
In this summary, you will learn
- How “innovative finance” plays a critical role in addressing social ills and market failures;
- How microfinance and microinsurance have evolved; and
- How new approaches, such as “vaccine bonds” and catastrophe bonds, help alleviate poverty.
About the Author
Executive director of the Pershing Square Foundation Georgia Levenson Keohane is a professor in Columbia University Business School’s Social Enterprise Program.