A New Capitalism

Creating a Just Economy That Works for All

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.

In a time of extreme financial market uncertainty, Altman designs a roadmap for navigating precarious investment conditions and increasing the impact of investment to benefit those historically locked out of financial opportunity. Through numerous examples, including those developed by the nonprofit community finance organization he founded, Community Reinvestment Fund, USA, Altman offers clear evidence how lives can be bettered, futures altered, and entire communities transformed through the creation of ESG-minded investment strategies. Among the programs elucidated within A New Capitalism, are the New Markets Tax Credits, The Detroit Home Mortgage, Small Business Administration loans, the Payroll Protection Program, and the Bond Guarantee Program. As the book also demonstrates, the kinds of approaches and strategies on which Altman focuses now extend into all financial and investment institutions and have critically important applications for those far beyond Community Development Financial Institutions.

©2023 Frank Altman (P)2023 Advantage Media Group, Inc.

Inspiring call to action

An accessible, informative, and interesting book by a pioneer in the social impact finance field imploring us all to think and act critically with our resources to improve outcomes for all

A must read for investors and entrepreneurs!

‘A New Capitalism,' is an engrossing and enlightening discussion on the intricacies of modern entrepreneurship, particularly as it pertains the social impact space, the future of work, and immigrant and minority founders. Frank's meticulous approach to historical and cultural context and his proposed strategies for evaluating the potential profitability of ventures initiated by less privileged entrepreneurs, are commonsensical and inspiring.

Frank's exploration of the digital divide and its impact on new entrepreneurs, and his insightful discussion on the role of sustainable business practices in new capitalist models also stand out. His ability to link these topics to the broader narrative of access to mentors, resources, and networks adds a rich layer of depth to his argument. Frank's emphasis on mentorship and the creation of a supportive community for entrepreneurs underlines the book's core message: capitalism can be profitable as well as inclusive, equitable, and supportive.

This book is not just a read; it's a call to action for investors and banks to have a more empathetic and understanding approach to business. For immigrant, minority, and other entrepreneurs disadvantaged by structural and systemic biases built into the current investment frameworks, the book is a must read as it paints a realistic picture of current obstacles and provides a hopeful account of increasing opportunities and resources- specially for purpose-driven, social impact ventures.

I'm genuinely inspired by the insights and perspective gained from this book. Thank you, Frank, for this invaluable contribution to the conversation and congratulations on your recent promotion to the role of grandad! Your wisdom and insight are gifts to us all. ~Edison Sabala

A five-star beacon of inspiration!

A New Capitalism" is a groundbreaking and thought-provoking masterpiece that delves into the Authors decades long journey driving the essential transformation of our economic systems to create much needed social impact.

Marrying visionary ideals with practical solutions, the author presents a compelling case for reshaping capitalism to serve the greater good. Through the authors deep experience leading and building CRF and his eloquent prose, this book charts a path towards a just economy that not only works for all but also rekindles hope for a fairer, more equitable world.

A must-read for anyone seeking innovative ideas and a blueprint for a brighter future.