George Clason, in his classic book titled “The Richest Man in Babylon,” wrote this line: “A part of all I earned was mine to keep.” In the 1950s, a lawyer named Louis Kelso coined the term “Employee Stock Ownership Plan” (ESOP). The intent of ESOPs is to significantly increase employee incentives and productivity, while giving
Like many people, I am a Mark Twain fan. Therefore, on a recent trip to Hartford, Connecticut I visited his historic home.
Browsing through the gift shop after the tour, the following book caught my eye, “Ignorance, Confidence, and Filthy Rich Friends: The Business Adventures of Mark Twain, Chronic Speculator and Entrepreneur” by Peter Krass. This
John Hoffmire: What did you have in mind that made you want to start Outline India?
Prerna Mukharya – Good data leads to robust policy making.
Before starting my journey with Outline India, I was a researcher working on grants with think tanks and universities. I realized that as a country we were receiving so much donor money,
The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti.
This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of the
All societies have problems. I am sure this is not a shock to anyone. Neighbors have disputes, poverty exists and inequality grows. Simply put, if each individual of a society is imperfect, so too is society, and since no one is perfect, we each play a part in making society imperfect. And like people, institutions
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The academic and practitioner literature on Employee Stock Ownership Plans (ESOP) has developed significantly over the past decades, particularly with respect to the impact (improved growth and productivity) and different types of ESOPs (leverage and non-leveraged).
Yet, despite ESOPs being well-conceptualised, the deals struck in the real
According to the SBA; as of 2018, 99.9% of US businesses are small businesses which employ more than 47.5% of the private workforce in the US.
A new survey of more than 5,800 small business owners by Harvard Business School paints a dismal picture of America’s current small-business viability. Forty-three percent of firms are temporarily closed
Social Security policy is unsustainable in its current form. What has consumed a significant portion of America’s paychecks and helped sustain a significant portion of America’s seniors is destined for change.
In 2019, the trustees of the Social Security program released a report predicting that all of the trust fund’s reserves would run out by 2035.
Elise Clark and John Hoffmire
In the past decade, investment companies and foundations have shown an increased interest in impact investment. It is no longer a niche industry, but a mainstream concept organizations use to create social and environmental impact. In an article written by Sridhar Prasad et al., published by The Bridgespan Group, it is
Universal Basic Income: Although the concept of a universal basic income has been debated for years, new studies from Finland provide possible evidence that the complex principal could be implemented to the benefit of citizens. According to an article published in the Annual Political Science Review by Dr. Juliana Bidadanure, Universal Basic Income (UBI), is
The core of the American Dream — equality of opportunity and rewards commensurate with efforts and abilities — has enchanted millions of people across the globe. However, it is important to assess whether the reality bears out that ideal. Although two-thirds of Americans (69 percent) agree with the statement that “people are rewarded for intelligence
All societies have problems. I am sure this is not a shock to anyone. Neighbors have disputes, poverty exists and inequality grows. Simply put, if each individual of a society is imperfect, so too is society, and since no one is perfect, we each play a part in making society imperfect. And like people, institutions
The number of men who had DNA tests administered for themselves and at least one of their children rose by 64 percent last decade, according to The New York Times. The DNA tests confirm whether or not a man is unknowingly raising another man’s child. More than 400,000 men had DNA tests administered in one
Alleviating poverty is a worthy endeavor pursued by many organizations. However, studies show that in some cases there are unintended negative impacts upon the environment. The goal to alleviate poverty without environmental damage can be challenging.
For example, an organization might teach improved farming techniques and assume that if followed the effects will be positive. However,
In theory, employee ownership through an Employee Stock Ownership Plan (ESOP) is an almost perfect idea, since it benefits employees and businesses equally and simultaneously.
Shares are allocated to, rather than purchased by, the employees, which puts ownership within the grasp of many who might never own a business otherwise. Employees have a strong incentive to
You may ask why am I posting a picture I took on the site today?
It is partly because I like flowers. But it is also because of the ending of a poem by Gary Snyder: Stay together. Know the flowers. Go light. I feel this poem gives instruction for the times
One of the most recognizable myths from ancient Greece is the tale of King Midas. For those unfamiliar with the story, King Midas received a wish from the god Dionysus that he used to have everything he touched turn into gold. At first delighted, Midas quickly realized the folly of his decision after he was
In a recent column, I asked readers to write in with ideas about how full employment would influence the debate about inequality in the U.S. Since the column was published, eradicating poverty and trying to address inequality have been even more ever present in the spotlight as issues to be addressed in meaningful ways. Many
Those answering this question seem to have become more and more optimistic over the past several decades. Major advances in technology, education, healthcare and business practices have led to reduced poverty rates around the world. Although victory is still a long way off, it seems that we have a fighting chance in the battle against poverty.
While
Across the United States, it is not uncommon to see billboards and advertisements for a local lottery. These are often joined by other joint lotteries, some of which cover several states. While the variety is seemingly endless, all the ads and sponsorships of the games share one trait: a warning. Often found in the fine
