Scholars like Benjamin Friedman have demonstrated that economic growth helps drive any number of positive trends: improved human rights, better health, women’s empowerment, higher education attainment, and on and on.
Historically, though, explicit efforts to foster growth haven’t been all that high on the agenda of a philanthropic world that cares about all the things I just mentioned. In particular, funders haven’t tended to do a lot in the way of supporting entrepreneurs, whose new businesses create many of the new jobs that propel growth. Meanwhile, small business has been on the decline in the U.S. for the last decade, a trend that was greatly accelerated by the Great Recession, with new business creation plunging by 30 percent in the wake of the economic crash.
via Trendwatch: Foundations Get Serious About Backing Entrepreneurs and Businesses – Inside Philanthropy: Fundraising Intelligence – Inside Philanthropy.