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Profits and alms: Cross‐sector partnerships for global poverty reduction
Author(s) -
Goldsmith Arthur A.
Publication year - 2011
Publication title -
public administration and development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.574
H-Index - 44
eISSN - 1099-162X
pISSN - 0271-2075
DOI - 10.1002/pad.585
Subject(s) - subsidy , poverty , economics , empowerment , poverty reduction , work (physics) , profit (economics) , non profit , government (linguistics) , public economics , business , labour economics , economic growth , microeconomics , market economy , business administration , linguistics , philosophy , engineering , mechanical engineering
A growing movement commends a targeted business‐oriented approach as the best chance to reduce global poverty. It offers the promise of dual returns—empowerment for the world's neediest citizens and earned income for investors in pro‐poor ventures at the same time. This appealing vision may underplay the importance of multi‐stakeholder collaboration to make it work. There is no unambiguous free‐standing business paradigm for helping the poor better themselves. A review of previously documented cases shows the market‐oriented approach can reach low‐income and socially excluded households, but the payoff usually depends on cross‐sector subsidies from non‐profit or government organizations. Copyright © 2011 John Wiley & Sons, Ltd.