A New Capitalism: Creating A Just Economy That Works for All

Written by Frank Altman

Narrated by Zak Griffin

In A New Capitalism, Frank Altman, a legendary figure in the Community Development Finance industry, offers a systematic argument for why and how American capitalism can be extended to people from every walk of life, including those from low-income census tracks. He explores the history and cultural realities that have created an unequal financial playing field, particularly for BIPOC communities and how innovative approaches can create sound investment devices and exponential growth in minority and women-owned businesses and increase levels of home ownership. Altman exposes the false belief held by many that capitalism operates at greatest efficiency when only focused on increasing the wealth of the richest segments of a population and offers clear evidence how American capitalism has always existed within a regulated system.

By identifying the current moment as transformative for capital markets due to the financial disruptions caused by the COVID- 19 pandemic and the murder of George Floyd, Altman offers pragmatic alterations to existing investment programs, expands on historically successful examples of innovative investment approaches, and outlines next steps that can ensure more people will benefit from the wealth capitalist systems produce.

• Language: English
• Publisher: Advantage Media Group, Inc.
• Release date: Sep 26, 2023
• ISBN: 9798887503875

Frank Altman

FRANK ALTMAN is the founder of Community Reinvestment Fund, USA, an innovative national CDFI committed to collaborating with others to fill gaps in access to capital and grow the capability of the industry. Altman pioneered the development of a secondary market for community and economic development loans. In partnership with a network of community partners, CRF has funded $3.6 billion in loans to small businesses, community facilities, charter schools, and affordable housing projects in more than 1,000 communities in all fifty states. Altman is a founding member and first President of the Board of Directors of the New Markets Tax Credit Coalition and helped spearhead the creation of a federal tax credit to encourage private investment in low-income communities. He is a member of the Center for Community Development Investors at the Federal Reserve Bank of San Francisco and an advisor to the Social Innovation Initiative at Brown University. He lives in Minneapolis.