A Boost for the Worker-Owned Economy

Low-income students are always looking for ways to finance their education. A new system using “human capital contracts” to pay for higher education isn’t as scary as it sounds.

54 million people in the United States, and 4.5 billion globally, have no credit to their name - making it nearly impossible for them to buy homes, apply for jobs and receive loans. Investors and lenders make an effort to help those with 'invisible credit' scores in financing essentials like homes or cars.

Although Nigeria "is arguably the worst-run of the world’s major countries," it's biggest city is providing a model for how to turn poor governance around. Lagos, a historically fragile city like the rest of Nigeria, has devolved more power to civilian rule, which has shown positive results for the health of the city.

At a time when university students lack opportunities and financial help to test their innovative business ideas, the Resolution Project supports higher education students who have ideas for socially responsible businesses and charities. Resolution offers small awards to start businesses as well as mentor opportunities that enable networking and business collaboration with experts.

Government benefits to aid the poor are frequently left unclaimed, leaving children hungry, young people unable to finish school, and opportunities for stable housing and preventative health care unused. New York City-based program Single Stop connects people to benefits for which they may be eligible. Importantly, Single Stop has served community colleges where disadvantaged students can use the assistance to help get through school.

The 2008 recession’s job losses spurred a development of a Do-It-Yourself economy. With the advent of Uber, Etsy, Airbnb, and others, the marketplace has become full of micro-entrepreneurs who thrive with independent web-assisted businesses.

Two columns on microconsignment, a new variation on microcredit that helps poor people living in developing countries - particularly women in rural villages - start small social businesses without taking on debt or requiring previous business skills. The organization, Soluciones Comunitarias, partners with a non-profit and a university student program to manage the supply chain and other components of the business necessary to support the social entrepreneurs in successful micro-ventures.

Access to electricity in India takes a huge economic, educational, and health-related toll. A small company called Husk Power Systems has created an innovative system that is turning rice husks into electricity and illuminating India’s poorest state.

Programs to get fresh produce carts to areas with no access to healthy food work best when government and determined entrepreneurs team up. Success from this model is evident in New York City, where the city has incentivized the selling of fruits and vegetables by street vendors in areas that are in the most need of the produce.

This is a column on an important new development program in use in at least 40 developing countries: give the poor cash payments, contingent on their use of health clinics and their children’s school attendance, to help break the cycle of poverty.