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May 10, 2009

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Pete Manzo

Great post, Albert. Now I have a good name to describe this, which has made me uneasy. The notion that nonprofits are only distinguished by their tax status is really wrongheaded. Market forces should be used for good, where they can, but the fact is, with many issues, they can't, otherwise they already would have been.

I'm also waiting for skepticism of markets to increase just a little bit in our sector. It's as if markets had nothing to do with the current economic crisis and the boom-bust cycle we've had for going on 25 years. The stock market didn't reflect real value (nor did direct bargains between "sophisticated" investors, a la AIG and its counterparties, for one example). Unless we have much more resources, and much more openness (regulated and enforced), to put into it, why would we expect a nonprofit "exchange" to do better? Not too politic to mention these days, yet, though.

Great to see you writing again.

Albert

Thanks, Pete. There's a lot to be skeptical of. If the ability to persist without subsidy was one of the marks of true entrepreneur, then I imagine few captains of American industry would qualify for the distinction.

Mitch

"...I’ll eat my shoe if you can convince a hundred investors to buy stock in a company that promises to make a killing by helping returning prisoners reintegrate into their communities."

Well, if the company had a government contract with the Bush Administration [PDF]...

Salt and pepper on that shoe?

Barbara Saunders

Hmmm...what about Delancey Street? No stock, but the nonprofit supports itself through the very same businesses at the heart of the program itself - providing training and jobs to the clients who need reintegration into their communities. No begging.

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