Poverty, it’s the economy, stupid.

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There still persists in many more than four quarters the notion that impact investment is about a commitment of assets at the margin for those who can both afford to salve their social conscience and to lose their money. It follows ineluctably from this premise that impact investment is the sole privilege of the wealthy.

In this context, consider some recent events in New York. Christopher Blattman, a professor of political science at the University of Columbia writing in the New York Times [LINK], relates the story of a Chinese magnate called Chen Guangbiao who elected to give $300 each to every one of the Big Apple’s homeless, as a contribution to getting them back on their feet…

This article originally appeared on Impact Investor. Read more…

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