LGBT Impact investing is an element of response to the failures of the economic system
In 2021, it has become common for the highest priests of capitalism to question the system itself. Last week Jamie Dimon horrified the Economist (read the counterpoint in this week’s issue – “the political CEO”) in his shareholders newsletter. In it, Jamie claims capitalism does not work any longer and call for urgent reform. “Americans know something has gone terribly wrong, he writes in a dithyrambic and rather dark exposé.
JPMorgan Chase’s CEO passionately argues for tackling mass incarceration or income inequality while condemning the selfishness of the wealthy. I get why The Economist is a bit disturbed. In the same document, Dimon outlines the incredible 2020 results of JP Morgan Chase. The bank just posted a profit of $14.3 billion in Q1 against $2.87 billion the same quarter last year. Let that sip in –
In a recent interview with Decrypt, the magazine demystifying Bitcoin, on the topic of LGBTQ+ economic inclusion (read “Can Blockchain Safeguard the Rights of At-Risk LGBT People?“), I argue that our current economic system is a choice. It is one of many approaches to divide resources between individuals.
While I believe that certain moral principles are “eternal and absolute”, I don’t believe capitalism was handed down to us as one of them. I think we came to the conclusion that “free market economics” coupled with a healthy dose of regulations would lead to the optimal allocation of resources. And apparently it does not any longer.
I also argue that if some do not find this system working for them, a clear alternative offered by information technologies is to create their own economy and their own currency.
Another alternative, which I would not recommend as a Frenchman who went in his youth through an entire academic year of history devoted to 1789, is a revolution. Revolutions always hurt the middle class, lead to long painful periods of instability and often present the risk of ultimately only benefiting the new dominant class.
However, out of the existing options, evolution remains my personal choice. We can take small, incremental and intentional steps to adjust the system to make it more inclusive, fair and stable. Our future depends on it.
At OutPerform believes that LGBTQ+ impact investing is a clear channel to make these changes happen. By economically empowering LGBTQ+ people, embattled in most of the World, OutPerform believes investors can contribute to more stability in our society while encouraging good behavior by economic actors. OutPerform is certain one can generate a really healthy financial return while improving the lot of sexual minorities globally. Join us in this soft revolution.
You can suscribe to Houdart’s weekly newsletter on global LGBT news here: https://www.getrevue.co/profile/Fabrice-Houdart
Also Read previous OutPerform articles here.