{"id":17995,"date":"2022-09-19T05:48:09","date_gmt":"2022-09-19T05:48:09","guid":{"rendered":"https:\/\/www.booksofall.com\/es\/?post_type=product&p=17995"},"modified":"2022-09-19T05:48:23","modified_gmt":"2022-09-19T05:48:23","slug":"financial-strategy-for-public-managers","status":"publish","type":"product","link":"https:\/\/www.booksofall.com\/es\/financial-strategy-for-public-managers\/","title":{"rendered":"Financial Strategy for Public Managers"},"content":{"rendered":"

In late 2015 Mark Zuckerberg<\/a>, founder of Facebook, launched a plan to give away most of his $45 billion fortune. Along with his wife Priscilla Chan<\/a>, he announced the creation of a philanthropic organization known as the \u201cChan-Zuckerberg Initiative.\u201d This \u201cInitiative\u201d defies conventional labels. At one level it\u2019s similar to a traditional non-profit organization. It can deliver social services, participate in public policy debates, and partner with other non-profits. It\u2019s also like a traditional philanthropic foundation, with plans for grant-making in areas like education reform in the US and clean water in developing countries.<\/p>\n

But the Initiative is also decidedly non-traditional. It\u2019s organized as a for-profit limited liability corporation. That means when it wants to, it can do many things non-profits and governments can\u2019t. It can invest money in other for-profit entities. It can fund election campaigns. It can manage and invest money on behalf of other non-profit and for-profit organizations. So the important question around Chan-Zuckerberg is not what will it do, but rather, what won\u2019t it do? With $45 billion at its disposal, and few if any limits on how to spend it, the possibilities are endless.<\/p>\n

Some are calling this \u201cphilanthro-capitalism.\u201d Chan-Zuckerberg is the largest and most visible recent example. But there are many others. If you\u2019ve ever bought a sweater at Patagonia, worn a pair of TOMS shoes, or used a shot of insulin from by Novo Nordisk, you\u2019ve participated in philanthro-capitalism. These are all for-profit companies with a social purpose hard-wired into their mission. This also works from the other direction. Strange as it sounds, IKEA<\/a> \u2013 whose founder Ingvar Kamprad<\/a> was once the wealthiest person in the world \u2013 is controlled by a charitable family foundation.<\/p>\n

Maybe you didn\u2019t think public finance has anything to do with cat videos, Fair Trade Certified\u2122 fleece vests, or the FJ\u00c4LKINGE shelving unit. Turns out it does.
\nPhilanthro-capitalism<\/a> brings the glamour and prestige of big business to the decidedly un-glamorous work of feeding the hungry, housing the homeless, and the other essential efforts of governments and non-profits. That\u2019s important. But even more important, it\u2019s forced us to re-think what it means to manage \u201cpublic\u201d money.<\/p>\n

Showtime\u2019s hit show \u201cBillions\u201d is the story of a hedge fund that operates in the shadowy underworld of finance. That fund \u2013 known as Axe Capital, for its founder Bobby Axelrod \u2013 will do anything to turn a profit. It\u2019s traders buy and sell stocks on inside information, bribe regulators, and spread market-moving rumors, among many other nefarious tactics.<\/p>\n

Season 2 features a compelling storyline ripped from the proverbial public finance<\/a> headlines. Axe learns through a back-channel that the Town of Sandicot, a long-struggling upstate New York community on the verge of bankruptcy, is about to be awarded a state license to open a new casino.<\/p>\n","protected":false},"excerpt":{"rendered":"