Dr King spent his last precious hours advocating for the economic rights of African American sanitation workers in Memphis. In his broader vision, this was one arm of a struggle for justice for the poor and powerless that spanned divides of gender and race.
The post, at least for me, presents a new way of thinking about “return on investment”. In other words, the “return” is the uplift and empowerment of our communities in ways that seek to build equity for all instead of maximal profits for a few.
In our brief conversation, Ryan schooled me on bail bonds funds as one example. Since many people can’t afford the bond for minor traffic violations and misdemeanors, they end up having to do jail time, miss work, lose jobs, and thus end up in a downward poverty spiral. Since it’s not supposed to be a crime to be Black, Brown and Poor, non-profit funds such as the Bronx Freedom Fund were setup to provide a route of this particular trap. An investment in the bail bond fund is a direct investment in the economic viability of a given community — like the South Bronx.
As Ryan points out, the move away from the traditional 401k/IRA can be gradual — say 10% of your investment funds allocated to solidarity investments. It is the start of the journey that matters.
The options for where to put your solidarity dollars range from grant based investing (like bail bond funds or in local food cooperatives like the one in the featured image by Steven) to direct lending programs (like Canopy Coop in Boston) to more traditional equity investments like the Shared Capital Cooperative .
Gayatri Sethi (my life partner) is working on a education platform called Alt-College that’s based on this solidarity model.
Do you have any suggestions on efforts to invest in? Strategies that you have put into place for socially conscious investing? Please share!