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Capital and the Common GoodHow Innovative Finance is Tackling the World's Most Urgent Problems$
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Georgia Levenson Keohane

Print publication date: 2016

Print ISBN-13: 9780231178020

Published to Columbia Scholarship Online: September 2017

DOI: 10.7312/columbia/9780231178020.001.0001

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Innovative Finance and the Visible Hand

Innovative Finance and the Visible Hand

(p.1) Introduction Innovative Finance and the Visible Hand
Capital and the Common Good

Georgia Levenson Keohane

Columbia University Press

As Christopher (“Edge”) Egerton-Warburton pedaled his bike along the Buckingham Palace Road in the summer of 2002, the gears began to shift. A Goldman Sachs banker by trade, Edge considered the investment challenge—and conundrum—posed to him by the Chancellor of the Exchequer: how to help the United Kingdom honor its commitment to the Millennium Development Goals (MDGs), an ambitious and global effort to tackle poverty and its many dimensions—among them hunger, child and maternal health, preventable disease, and education. Why, Edge wondered, if investments in social and economic development were so cost effective, did we fail to make them? And was it possible to borrow from his world of structured finance to turn future government aid pledges into money for social investment today—when it was most valuable?...

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