How the Poor Can Save Capitalism: Rebuilding the Path to the Middle Class
The ashes of the Los Angeles riots had barely cooled when author and entrepreneur John Hope Bryant founded Operation HOPE to promote capitalism in underserved communities. In this Milken Institute Forum, Bryant discussed his new book, “How the Poor Can Save Capitalism: Rebuilding the Path to the Middle Class,” in which he presents a strategy for restoring the American middle class by teaching financial literacy and removing barriers to credit and small-business creation.
Bryant asserts that “responsible” capitalism can increase household income, turn renters into homeowners and restore confidence in our economic system. In the 23 years since the riots, Bryant has tested his theories as a businessman and activist. The Los Angeles native has worked with presidents, educators and corporate executives around the world to teach financial skills to low-income and working people.
ABOUT THE AUTHOR
John Hope Bryant is the founder, chairman and CEO of Operation HOPE and the Bryant Group Cos. Bryant has built successful for-profit and nonprofit enterprises and been a member of advisory councils for Republican and Democratic presidents. He presently serves on the President’s Council on Financial Capability for Young Americans. Bryant, a regular contributor to LinkedIn and the Huffington Post, also is co-founder of the Gallup-HOPE Index, the only national research poll that measures financial dignity and economic energy among American youth.
ABOUT THE MODERATOR
Paul Irving of the Milken Institute was previously an Advanced Leadership Fellow at Harvard University and chairman and CEO of Manatt, Phelps & Phillips LLP, a law and consulting firm. Irving serves on the board of East West Bancorp Inc., as vice chairman of the board of Encore.org, and on the Dean's Council of the Milken Institute School of Public Health at The George Washington University. Irving’s involvement with Operation HOPE dates to its founding in 1992, and he served on Hope’s global board and executive committee for many years.