More Than Money: Five Forms of Capital to Create Wealth and Eliminate Poverty

More Than Money: Five Forms of Capital to Create Wealth and Eliminate Poverty

More Than Money: Five Forms of Capital to Create Wealth and Eliminate Poverty

More Than Money: Five Forms of Capital to Create Wealth and Eliminate Poverty

Synopsis

Is poverty inevitable? No, says author Paul Godfrey. More than Money shows how organizations can win the fight against poverty and create prosperity for people at the base of the pyramid in the developing and developed world.

This book presents a novel framework that shows how five types of interrelated capital-institutional, human, social, organizational, and physical-enable development and sustainable growth. In addition to a widely-applicable model, Godfrey provides principles to guide application. Core chapters articulate each specific form of capital and provide examples of how it contributes to the triple bottom line. Not just a theoretical examination of poverty, More than Money delivers timely advice to organizations that produce goods and services, implement policies, and create meaningful change on the ground. This book will guide social innovators and entrepreneurs in business, government, and civil society settings as they create a vision, assemble a team of strong partners, and effectively measure social innovation.

Excerpt

IS POVERTY PERMANENT? The Hebrew leader Moses offered a sanguine assessment in his final discourse to his people: “There will never cease to be needy ones in your land” (Tanakh, Deut. 15:11). His successor Jesus Christ would say, fourteen centuries later, “Ye have the poor always with you” (Matt. 26:11). Twenty one centuries later the world’s political leaders joined arms to promise, “[We] will spare no effort to free our fellow men, women and children from the abject and dehumanizing conditions of extreme poverty.” The fine print clarifies that grand goal as cutting by half the number of people living on $1 per day. It seems that Jesus spoke truth; the poor will always be with us.

Moses and Jesus may have based their bleak forecasts on the reality that poverty, as a macrosocial problem, persists because its causes are deeply entrenched in social life. The four ancient horsemen—war, pestilence, famine, and death—ride alongside generational population dynamics, recent decades of failed efforts at education and literacy, and the ongoing evolution of global trade to subject billions to surviving at what scholars term the base of the pyramid. We can think of this poverty as “Big P” poverty: large groups trapped in lives of destitution created and perpetuated by sweeping social forces beyond their control.

Moses instructed his followers to “open your hand to the poor and needy kinsman in your land” (Tanakh, Deut 15:11). Jesus enjoined his followers that “inasmuch as ye have done it unto the least of these”—the hungry, naked, estranged, or imprisoned—“ye have done it unto me” (Matt. 25:40). The Koran teaches a similar doctrine: “Whatever wealth you spend, it is for the parents and the near of kin and the orphans and the needy and the wayfarer, and whatever good you do, Allah surely knows it” (Koran, 2:215); and Tiruk-

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