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By Donovan Ervin

 I remember sitting down for my first planning session when I had a very specific vision. It was thrilling when the moment I envisioned actually happened—five weeks into the school semester. During a class discussion on values, a self-described jokester shared his perspective and ended his insightful remarks with a light-hearted comment and a big grin. Then, the laughter. It lasted only a few breaths, but it flowed with warmth and ease. I felt the energy in the room shift as everyone relaxed.   

This! This is what I had hoped for when I took the leap to teach the first undergraduate impact investing course at Southern Methodist University (SMU). Because this was also my first time as a university instructor, everything was new and required building. 

I accepted the challenge to teach because it aligned with my mission and work. As an impact investing practitioner, I help direct financial capital toward environmentally- and socially-focused companies. But impact investing, at its best, is about more than just moving capital; it’s about shifting culture and power. It’s about using money to nurture life-sustaining systems. Money as medicine, as Edgar Villanueva puts it. And I was inspired by the idea that through this course, I could guide the next generation of students to explore the higher purpose of finance. 

I love teaching and facilitating, but the magnitude of this opportunity weighed on me. I felt out of my depth and overwhelmed. In moments of self-doubt, I wondered if I was experienced, engaging, and competent enough to lead students to grapple with the nuances of impact investing.   

Fortunately, my experience as a Just Economy Institute Fellow provided a blueprint. I borrowed from JEI’s learning framework to design a course with three focus areas: the inner work of personal reflection, the practical work of understanding financial capital as a powerful tool, and the collective work of cultivating relationships in the classroom and broader community. I was drawn to this framework for my course because, unlike with traditional academia, it calls upon financial activists to bring their full selves to the work. Hearts and heads. My own growth as a JEI Fellow showed me that this integrated approach can help leaders create change with more compassion, intention, and efficacy.   

With that in mind, I designed coursework to sharpen and assess students’ practical and conceptual knowledge. We analyzed impact frameworks, compared asset classes, and evaluated investment opportunities. At the same time, I knew a quiz or memo alone wouldn’t capture the holistic, heartful learning that I desired for my students. That’s why laughter was so integral to my initial vision: it pointed to the trust and connection required to go beyond transactions and into transformation.  

Although laughter wasn’t an official departmental learning objective, I hoped to see it, and I made intentional efforts to create the conditions for it to emerge. To disrupt hierarchy, we arranged the desks into an oval, rather than the standard classroom rows, so that we could see and learn from each other. To connect with our bodies and the present moment, we began class with breathwork. To foster relationships, we had one-on-one conversations with different partners each class and invited impact investing leaders to come speak. And to tap into personal values, students practiced storytelling and imagining the world they wanted for future generations.  

Especially at first, the idea of my students laughing in my class seemed, well, laughable. I sensed their resistance to this new content and style. My self-doubt returned, pointing out that these experiments weren’t working, and I was foolish for taking this on. So, when that first collective laugh finally came, I felt relieved. This moment of levity signaled to me that we were progressing towards the holistic learning experience I had imagined.   

Fortunately, the students had several more moments of laughter and discovery throughout the semester. I also saw my own growth, as I confronted my insecurities and gained more confidence in my ability to do hard things. I’m grateful to my tribe—JEI members, colleagues, and loved ones—who generously offered the materials, time, and support that enabled a successful semester. I was reminded that I’m connected to a community of brilliant co-conspirators and supporters also pursuing deep transformation. 

Of all the learning that took place, my most important discovery is this: whether teaching a university course or addressing society’s biggest challenges, we must lead with our full humanity.  

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Donovan Ervin (he/him) is Vice President in the Investment Group at Tiedemann Advisors. In this role, he is helping to direct capital toward a more inclusive, just, and regenerative economy. This work aligns closely with Donovan’s professional mission: developing and supporting new markets that shift patterns of production and consumption, distribute power and ownership more democratically, and expand the definition of wealth to include individual, community, and planetary health and well-being.  

Previously, Donovan has held positions at various organizations in the social sector, ranging from K-12 education to community development to environmental justice.  

Based in Dallas, Texas, Donovan is a graduate of Yale University (MBA and Master of Environmental Management) and Stanford University (BA in Comparative Studies in Race and Ethnicity). He is a JEI alumnus and a proud advisory board member at the Yale Center for Business & Environment and the SMU Impact Lab. Outside of work, Donovan enjoys writing, exercising, and being with his people. 

 

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By Tory Dietel Hopps, Managing Partner, Dietel Pickering & Partners

I am a philanthropic advisor, and I have the privilege of working with phenomenally intentional clients. Unfortunately, while the philanthropic intent is often alive and well, many of my clients are unaware of or overwhelmed by the ways in which their endowments could be invested in manners that perpetuate harm in direct contrast to their values and mission.  

I participated in the Just Economy Institute (JEI) fellowship in 2018-19 with three goals: deepen my learning around ways to shift my personal capital, create a community that believes money can be in service of liberation and economic transformation and find the courage to begin having difficult and transparent conversations with my clients. 

At some foundations, there is a tension between what the 5% of money (grantmaking) supports and how the other 95% of money (endowment) is invested. A foundation might, for example, fund new advocacy to stop fossil fuel pipelines while holding stock in the very companies building those pipelines. This incongruity didn’t sit well with me, and I saw opportunities for greater alignment and positive impact on issues of concern for my clients that could be achieved by shifting their investments. 

As an advisor, I felt called to point out the profound dissonance I saw between what my clients had helped accomplish through their philanthropy and the detrimental impact their foundation had perpetuated through their investments. JEI helped me understand that I wanted to play a role in illuminating this disparity and walking alongside my clients as we work together to rectify it. 

For many, significant wealth comes with emotional strife. I have clients who find great joy in their giving and are thoughtful, deliberate and intentional in their grantmaking. And yet, for many, wealth is rife with overwhelm, stress, guilt, and often, trauma. Confronting these emotions is as critical as it is delicate, and I was determined to discover how to have these conversations in a manner that was both approachable and honest. 

For my JEI Creative Capital Calling, I created a case study, workshopped a presentation showing how at odds the foundation’s endowment was with its grantmaking and offered a path forward. I then used this model in real time with one of my clients.

At first, when we met and I walked my clients through the contradictions in their philanthropy, they were disappointed and upset. They were overwhelmed, and I worried that I was at-risk of getting fired for being the messenger of this news. After our meeting, they went quiet for some time. 

In the meantime, I began sharing my own money story on webinars to various audiences; as someone with class privilege, I hoped my personal journey of aligning my money with my values could be a model for others who wanted to do the same but didn’t know where to begin. When I tell my story, I stress the indisputable, fundamental point that we are the only experts in our own values. I share that getting clear on my values led me to move my money differently and that this process happened slowly and over time. And, in doing so, I hope to demonstrate alternative ways of stewarding capital. 

Stories move people—and I was grateful to discover that telling my story had an impact on those who tuned in, including my clients. After a period of time and reflection, my clients decided that it was their responsibility to step into their values and make a request of their investment advisors. We set up a meeting, and my clients stated that, at the very least, any investments in their endowment should not be in direct opposition to their grantmaking work, and it was important to them to begin finding greater alignment between their values and investments. 

Afterwards, my clients realized that the process of clarifying their values and interests was less overwhelming than they had anticipated. What it required was intentionality. They had to step into the role of “executive trustee” and share what was important to them; then, it was up to the investment professionals, with help from their philanthropic advisors, to support them in making the necessary changes to bring their portfolio into greater alignment. 

Through careful articulation of what my clients hoped their money would and wouldn’t do in the world, and with the help of advisors who were willing to listen, we’ve made some real progress. I share the following as two examples of how we are tracking the shifts we set out to engage in: 1) a re-evaluation of risk and return, as we move into investments that are values-aligned, rather than investments focused exclusively on the highest financial return, and 2) investing in more funds managed by diverse ownership, with a focus on women and BIPOC fund managers—in this case, diversity is measured by at least 33% diverse ownership. 

I share this because I believe in the power of storytelling. I know how hearing others’ stories encouraged my own journey, and I’ve seen how sharing my money story has inspired my clients. Shifting the flow of capital and power requires clarity on what we’re shifting these resources towards. The power of intentionality is real, and all of us, at different places across the financial spectrum, have that power at our fingertips. 

With thanks to Cambridge Associates for working with us on this alignment assignment. 

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Tory is a social, environmental and financial activist. In 2007, she joined her father Bill and sister Betsy in creating Dietel Pickering & Partners, a shared family philanthropic office working with individuals and multigenerational family philanthropies. Tory has spent the past 12 years aligning her own wealth with her principles through a journey in impact investing. Clients credit her with helping them reshape their giving by thoughtful integration of their values and transforming their attitudes about the social change they can contribute to through their philanthropy and investments. Tory manages portfolios for clients with both domestic and international interests, while assisting grantees with their strategies, resource development and capacity building. She has a gift for helping to build profound partnerships between funders and grant seekers through her work.

For 25 years prior to Dietel Pickering & Partners, Tory focused on resource development, management and governance for non-profit organizations in education, health and human services. She served as a principal of Turning Point Consulting, specializing in strategic planning and organizational capacity building for nonprofits.

Tory serves on the advisory boards the Imago Dei Fund, Nyaka Global and the Northern Forest Fund.  She is a faculty member of the Girl Child and her Long Walk fellowship. Tory speaks publicly about her money story and how people can align their resources with their values broadly. She recently stepped down as Co-Chair of the Board of Health Care Without Harm, is a past Fellow of the Just Economy Institute and an Alum of Rockwood Leadership Institute’s Art of Philanthropic Leaders Program.  Tory is a graduate of the Emma Willard School and the University of Vermont.

Tory is the proud mother of two grown children and a granddaughter. She lives with her husband in Maine. When not causing good trouble, Tory can be found gardening, hiking, traveling or dancing.

 

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By Rudy Ruttimann

In the dynamic landscape of social entrepreneurship, where innovation meets philanthropy, there often arises a pivotal moment—a moment of vulnerability and resilience, where the strength of community intertwines with the quest for sustainable change. As a seasoned executive within the non-profit sector, I have navigated this terrain with unwavering determination, propelled by a vision of amplifying the transformative power of creativity for social and economic advancement.

Yet, despite decades of immersion in the intricacies of community and leadership development in the arts and culture sector, the challenge of resource scarcity persists—a sobering reminder that even the most promising initiatives require support to flourish and are challenged to find it. 

An economy based on competition, scarcity and extraction is void of the things that drive me on my journey as a financial activist. In stark contrast, grounded in the concept of radical love, I founded the Foundation for Leadership, Imagination and Place (FLIP), a public foundation aimed at catalyzing systems change through the amplification of young leadership. To me, radical love is an embodied experience where empathy, collaboration and an unwavering commitment to collective well-being emerge. FLIP is a manifestation of this radical love—it is a manifestation of our belief in the power of emergent leaders, collective action and the arts to shape a better world. 

However, remaining a well-resourced and sustainable organization is a journey fraught with obstacles. After only two years of operating, FLIP needed immediate assistance. The nascent nature of our organization combined with the volatility of resource flow rendered FLIP’s future precarious. 

Enter the Just Economy Institute—a bastion of innovation and solidarity, where financial activists converge to redefine and reimagine economic and social justice. It was here, amidst a gathering of like-minded visionaries, that I was once again reminded of the power and impact of radical love. 

With trepidation and hope, I took the opportunity to beseech my cohort for help with a request to support FLIP’s viability in the months ahead. The response was awe-inspiring. Ten individuals stepped forward, their hearts brimming with compassion and minds ablaze with solutions. In the ensuing hours, a symphony of collaboration unfolded as ideas converged and networks intertwined into a tapestry of collective action, grounded in love.

The zeal with which my peers approached my plea for assistance was matched by the depth of care and solidarity that permeated every interaction. Discussions expanded far beyond FLIP’s immediate considerations and evolved into a robust conversation around the short-term and long-term needs of the whole group. Everyone was given the chance to share resources they needed and those they could offer, and the response was a crash-course in integrated capital; the group explored financial, emotional, natural, relational, intellectual, spiritual and political capital to resource one another’s work and dreams. 

In a testament to the transformative power of collective action, support emerged within a mere six hours—an achievement made more remarkable by the spirit of equity and compassion that underpinned every contribution. As FLIP’s urgent needs were met, a sense of gratitude and humility washed over me as I recognized the boundless potential that emerges when individuals come together in pursuit of a common goal.

As I reflect on this transformative experience, I repeatedly return to the profound impact of radical love—a force, too often de-centered in our work as change agents, that transcends boundaries, unites communities and empowers individuals to effect meaningful change. Equipped with newfound lessons and a spirit of solidarity, I am determined to share these insights with my local community. My hope in sharing this story is to illuminate all that is possible and catalyze a ripple effect of compassion, collaboration and collective action that will reverberate far beyond our immediate sphere of influence. In the end, it is through acts of radical love that we pave the path towards a more just and equitable world—for ourselves, and for generations yet to come.

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A few years ago, Rudy Ruttiman stumbled upon the term “financial activist,” and it immediately resonated. After years of fighting for social justice, Rudy hungered to create tangible change. The concept of financial activism ignited a fire within her and has been the bedrock of her mission ever since. With two decades at SKETCH Working Arts, Rudy has been on a rollercoaster ride of nurturing creativity and empowering young minds. Now, she is diving headfirst into FLIP-Foundation for Leadership, Imagination, and Place, a journey to shatter barriers in the arts, amplify creative industries, and energize communities across Canada. Rudy hopes to revolutionize systems, share wisdom, and pioneer social change in community. When not immersed in the realm of arts and activism, Rudy is lost in the enchanting embrace of Northern Bruce Peninsula’s nature–gliding on water, tracing hidden routes, and embracing the thrill of discovery. Rudy is a queer mom of four, a Toronto & Northern Beauty Seeker, kayaking addict, movie magic devotee, book nerd, and laughter aficionado. Rudy hopes to laugh, learn, and reshape the globe one adventure at a time. 

 

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by Kelley Buhles, Stephone Coward and Sabrina Wu

One summer day at Paicines Ranch, a handful of Just Economy Institute Fellows began making a plan to create a fund that would help us practice what we were learning: doing the inner work that is needed to create the conditions for a just economy, while simultaneously creating new ways of flowing capital that create community wealth and support healthy systems. This fund could be a place of praxis for everything we were learning, while simultaneously funding projects of JEI alumni who are traditionally excluded from access to capital. Two years later, the JEI Alumni Grant Pool was launched and completed its first round of grant funding. 

The JEI Alumni Grant Pool is a grant program for JEI alumni created and funded by JEI alumni. Grounded in abundance, joy and collaboration, the JEI Alumni Review Committee utilizes non-extractive, trust based and participatory processes to flow funding to as many applicants as possible. The hope of the JEI Alumni Grant Pool is that making financial support available to JEI alumni will catalyze visionary work across the alumni network, provide energy and fortitude to alumni in their journeys as financial activists and create a platform for re-engaging with the alumni network to forge collaborations and relationships.

In participatory grantmaking, we often say, “the process is the point,” meaning it is important to look beyond individual grants to see the impact of and lessons learned through the process of shifting power. Our work of shifting power requires that we do things in new ways, innovate on process and reflect on what we’ve learned. The greatest value of the Alumni Grant Pool is in the learnings that are generated for the field. We are excited to share some lessons learned in the first phase of the journey.

Non-competitive Grantmaking

When exploring how to create a fund to support JEI alumni, we wanted to be sure that it didn’t create a sense of competition within the JEI community. The JEI alumni committee decided to explore using non-competitive processes to make grant decisions.  

Philanthropy is based in scarcity and competition. The scarcity mindset, valued and upheld by white supremacy culture, tells us that resources are limited, and we must compete with one another in order to survive. Philanthropy creates competition by forcing grantees to apply for limited pools of funding against their peers. Accordingly, there is a growing interest in non-competitive grantmaking within the philanthropic field to create new systems that do not perpetuate theextractive dominant paradigm. Funds like the Equality Fund, which distributed $14m to 23 groups, Fenomenal Fund, which distributed $3m to 40 groups, and the Potlatch Fund, which is deeply rooted in the Indigenous worldview that wealth is measured by our shared abundance, have demonstrated that non-competitive grantmaking not only works, but creates cultures of abundance and collaboration among grantees.

Inspired by mutual aid funds, which have been an effective tool for sharing resources within marginalized communities in the US since 1793, the JEI Alumni Grant pool was designed to flow funds to those who typically experience the most barriers to funding using non-competitive and trust based processes. We set up the fund such that we believe people who say they have a need, and we trust them to take what they need and leave the rest for others. Of the 10 people that applied, 70% did not ask for the maximum amount available.

Pacing Funding vs. Urgent Deployment

Based on initial feedback we got from alumni, we planned to have the grant pool open twice a year so that those in need of funding would not have to wait for an annual process to get funds to support their work. During our first round of funding, however, we had more requests than funding allotted for. Our options were to either a) develop a non-competitive process for selecting who would receive funding, b) provide applicants with less than the minimum amount they had requested, or c) distribute more funds than we had originally planned for in the first round. 

While discussing Option A, the JEI alumni committee explored non-competitive processes for selecting funding recipients, such as random drawings; ultimately, we felt that funding only some of the groups was disingenuous since we had enough funding for all applicants to receive some. Furthermore, if those who didn’t receive funding were moved into the pool for the next round, we would essentially be delaying their funding for no reason other than self-created red-tape. In the field of philanthropy, we often see “fake rules,” or self-imposed rules, that disproportionately serve the needs of the funder. In contrast, we were determined to unpack the reality of our funding options and center the needs of our community. Accordingly, we decided Option A was not the right route for us.  

Option B, providing applicants with less than the minimum amount they had requested, also felt misaligned with our values. If our trust based giving meant that we believed people when they asked for their needs, we felt that giving less than the minimum amount requested would undermine that trust. We were compelled by a practice of fully funding proposals – a practice offered by JEI alum Allistair Mallillin at Common Counsel Foundation. Marginalized communities frequently under-ask for what is needed to do their work; in order to disrupt the cycle of under-investment in these communities, we felt it important to honor the practice of fully funding proposals. 

Therefore, Option C, distributing more funds than we had originally planned for in the first round, felt the most aligned with our values of quickly and easily getting funding to those who need it.  

Spending more, now versus saving for future needs is a tension philanthropy has long wrestled with. We resonate with the growing movement of foundations working to put themselves out of business while seeding a just economy where philanthropy does not exist. Given the urgency of the times, there is a growing call in the philanthropic sector to deploy funds more quickly now, rather than amassingfunding for future crises when it may already be too late to make the necessary changes. 

Steeped in the beliefs that time is a justice issue and flowing resources to some can create collective wellbeing for many, the committee decided to ensure that people had access to as much capital as possible in the immediate moment by resourcing requests quickly and fully. Furthermore, in the hopes of providing energy and fortitude to our JEI alumni community, we felt that fully funding requests would allow those on the frontlines to feel the impacts of an influx of resources, and, perhaps, provide some mental relief to those who consistently struggle to access funding.

In the end, the committee funded everyone who applied at their minimum request amount; the remaining funds allocated for the year were split equally among applicants whose funding hadn’t reached the grant pool maximum of $15,000. 

Still learning

Like any pilot program, we learned a lot. The funding took longer to deploy than we had hoped which pushed back the second round of funding, and we are still exploring how to non-extractively collect information about the lessons learned from this pilot.

We are grateful for folks who have gone before us in the work, like the Trans Justice Funding Project who wrote a brilliant piece in 2015 about Doing Philanthropy Differently, and everyone working to transform philanthropy, such as Trust Based Philanthropy and the Participatory Grantmaking Community. Given the recent backlash against trust based and participatory processes, it is more important than ever that we continue this work. We are also grateful to the fund’s many donors who have engaged, questioned and supported us on this journey. We look forward to continuing to share our lessons with the field. 

Kelley Buhles is an independent consultant, collaborative leader and co-creator of new economic models that build and retain power and wealth in communities. She is a participatory grantmaking thought leader, having practiced since 2010, she has designed and supported over 20 processes. 

Stephone Coward is the Economic Justice, Justice Paid in Full Campaigns Director at the Hip Hop Caucus. He has worked in the banking industry in Dallas-Fort Worth for the last two decades and received his Bachelors of Arts in History and Master of Science in Sustainability from University of Texas at Arlington. In 2016, he cofounded BankBlackUSA and the nonprofit COWRIE Initiative to continue this advocacy work of supporting Minority Depository Institutions. In 2021, Stephone became a Just Economy Institute Fellow, joining a growing movement of financial activists who are shifting the flow of capital and power to support the well-being of all people and the planet. Because of his work and passion, Stephone has been named one of Forbes Next 1000 as a Social Entrepreneur.

Sabrina Wu (she/her) is a Senior Program Officer at East Bay Community Foundation, leading the Foundation’s work on building a just and inclusive economy. In this capacity, she supports increasing access to fair capital for BIPOC entrepreneurs, grassroots equitable economic development, and moving grant and impact investing resources in more participatory and collaborative ways. She is also a co-founder of LUNAR, a cross-racial solidarity funding initiative for Asian Americans to support movements for Black and Indigenous lives.

by Ana Ramos

For thousands of years, spiritual teachings have reminded us to cooperate, honor, rest and respect the seasonality and abundance of this Earth and all living beings and distribute its resources equitably and responsibly. For some, these lessons have become ancestral knowledge—a way of being and living in the world based on the teachings and lived experiences of our elders. 

For most of my adult life, I have considered myself a deeply spiritual person. After years of living with depression and losing my faith in a higher power, I met a spiritual healer and teacher who reminded me of this untapped well of love and possibility. She also reminded me of my power to heal myself by tapping into certain spiritual tools and rituals. Since then, I have participated in healing ceremonies, visited many places of worship, entered and created sacred spaces, and, most importantly, found myself through my healing journey. With new tools and awareness, I began to look around and notice the deep injustices in my community. That’s when I solidified my journey as an activist, bringing spirit with me to fight for a better world.

Specifically, I began to pay attention to and question our unjust economic system. I got a job with a public health organization and started questioning why we weren’t addressing the economic disparities that create many of the social determinants of health that plague our society today. I repeatedly saw what felt like band-aid solutions to deeply entrenched and systemic inequalities. In response, I switched careers and began working as an impact investor shifting capital and power to BIPOC communities. 

Last year, I had an incredible experience as a Fellow with the Just Economy Institute where I was emboldened to combine my radical hope for a just economy with my healing and spiritual practices. I realized that many of the concepts and frameworks I was learning about were very similar to my spiritual teachings and practices: being a good steward of the earth and all living things, being honest, noticing ego and greed, cooperating with others and seeing the possibility in everyone around me by honoring and respecting their individuality within the collective. Frameworks for a just and regenerative economy are based on cooperation, relationships, collective ownership and caring for the land and environment. Noticing these similarities, and reading the works of others pondering the same, drove me to consider how spiritual teachings could serve as a guide for how we manage, invest and share our economic and natural resources in collective alignment with a just economy.  

Spiritual teachings and practices have always served as a reminder for humanity to use natural and economic resources for the collective good rather than individual gain. In the spirit of sharing, I wanted to disseminate some of the wisdom that inspires me on my path as a financial activist:

• Seventh Generation Principle
  • The Seventh Generation Principle is based on an ancient philosophy of the Haudenosaunee Confederacy (Iroquois) people of North America, which states that the decisions we make today should result in a sustainable world seven generations into the future. 
  • A similar concept can be found within many indigenous communities or tribes across the Americas, Hawaii and with the Māori people of New Zealand who connect people in the past, present, future and non-human world in their whakapapa, or genealogy, of all things.

• Liberation Theology in the Catholic Church:
  • Kira Dault states: “Broadly speaking, liberation theology is a social and political movement within the church that attempts to interpret the gospel of Jesus Christ through the lived experiences of oppressed people.” This movement was started in Latin America in the late 50s and continued through the 80s and 90s. 
  • Liberation theology has three levels of liberation, the first being the liberation of the poor from economic exploitation.  
  • The teachings engaged in socioeconomic analysis and addressed other forms of inequality, such as race, political affiliation and caste.

• Islamic finance:
  • Islamic finance is banking or financing activity that complies with Shari’a (Islamic law). For example, Shari’a prohibits charging or paying interest because it is seen as financial exploitation. Alternative financing structures that follow Shari’a were created to allow observant Muslims to participate in the economy in a way where lenders can make a profit without charging interest. 
  • The sophisticated Islamic financing structures include models of co-ownership between the buyer and financier in Musharakah, lease-to-own models known as Ijara and deferred-payment resale arrangements called murabaja. Other concepts in Islamic finance also include social bonds, shared responsibility and shared risk.

• Debt Forgiveness and Year of Jubilee (Jubilee Economics):
  • History teaches us that debt forgiveness can be a tool for reprieve and reparations. For example, the Jubilee year in Jewish scripture and tradition was a time when fields were left fallow, debts canceled and enslaved people set free (Deuteronomy 15, Leviticus 25). Jubilees were supposed to happen in cycles every 7 or 49 years to ensure that inequalities did not persist over time.
  • Until recently, most people could not imagine debt forgiveness embedded into society’s socioeconomic practices. The norm today is that debt can become someone else’s asset and investors can buy and sell debt to one another to make a profit. In 2012, the Debt Collective launched the Rolling Jubilee Debt Fund, an entity dedicated to debt cancellation and public education. Through this fund, they have abolished $31,982,455.76 in existing debt so far. 

• Buddhist Economics:
  • In the essay “Small is Beautiful,” E.F. Schumacher argues that while the materialist is mainly interested in goods, the Buddhist is mainly interested in liberation. He states: “It is not wealth that stands in the way of liberation, but the attachment to wealth; not the enjoyment of pleasurable things, but the craving for them. The keynote of Buddhist economics, therefore, is simplicity and non-violence. From an economist’s point of view, the marvel of the Buddhist way of life is the utter rationality of its pattern—amazingly small means leading to extraordinarily satisfactory results.”
  • In an interview with the Garrison Institute, Clair Brown, author of Buddhist Economics: An Enlightened Approach to the Dismal Science, shared that when she teaches her students about Buddhist economics, she uses pies as a metaphor: “In the free-market economy, the most important thing is the size of the national income pie. After that, most economists care about the division of the pie. How can we divide the pie in a way that makes it more equitable? How can we share prosperity? In Buddhist economics, there’s one more step, which is to ask: What’s inside the pie? What makes life meaningful? How do we measure it? What’s in the pie, of course, includes the natural world and our relationships with each other.”

For many of us, specifically folks from the global south, Black and Indigenous communities, these spiritual teachings have become a way of being that is passed down from one generation to another, consciously or unconsciously. When I think about the way that I want to move within the contemporary economic reality of extractive capitalism, I dig into my roots and look to my parents and ancestors for guidance. 

I am awed by their ability to migrate to New York City from a small town in the Dominican Republic and open their own business. I am proud of the way they used the tools of those before them, like family and friends lending circles, (also known as susus, tandas, sociedad), which provided interest-free loans to help them start their businesses, save for a down payment and remodel their properties when needed. They hired neighbors and family members from back home who recently migrated, some of whom were/are undocumented, not as a way of looking for cheap labor, but as a way of paying it forward to their community. They provided free transportation, meals and sometimes housing to these new arrivals. They did these things because these were the teachings of their culture. 

For those of us on a spiritual path who are working in the field of economic justice, I challenge us to consider how we might integrate these teachings into all aspects of our lives, including how we move within our economic system. I challenge us to notice how we are all interconnected, to remember that we have been hearing this message for thousands of years. Above all, I challenge us to uplift the ideas and ancestral knowledge of marginalized people in our work. 

As I reflect on my career and the knowledge that I want to leave behind when I depart this realm, I think about cooperation. I think about the economy as a manifestation of our relationships with one another and our resources. I think about respect. I think about caring for the Earth, our collective home. I think about living my life in harmony with my ancestral spiritual knowledge. And this dream of mine, my vision for a just economy, sustains my radical hope. This dream can be realized. I know this because I am of my people, and their tools, teachings, legacies and spirits make certain the possibility of a better way forward.  

Ana Ramos is a visionary dedicated to reshaping our world into a more equitable and sustainable place for all through a fervent commitment to economic justice. As the co-founder of Colectiva Clara (Clarity Collective), Ana leads a cultural asset company that specializes in Latin American healing products, traditions, and rituals. Through Colectiva Clara, Ana orchestrates transformative visioning and manifestation rituals and workshops, guiding participants through meditation, healing practices, and creative expressions to help them align their lives with their goals. Additionally, Ana serves as a consultant on local economic justice initiatives.

Previously, Ana served as the Manager of Impact Investments at Common Future, where she developed and structured innovative pilot products and initiatives focused on impact investment capital. Prior to this, she held the role of Manager of Programs and Grantmaking at Common Future, overseeing grants management and coordination processes. During her tenure at The Food Trust, Ana collaborated closely with entrepreneurs in New Jersey, leading a small retailer initiative that culminated in securing partnerships with a local CDFI and cooperative development agency. Her efforts resulted in providing retailers access to affordable capital and the infrastructure to form their own cooperative. Ana also managed the Pennsylvania Fresh Food Financing Initiative, a statewide program investing in new or expanding healthy food retail outlets. She also led a bi-national healthy food initiative in the Paso del Norte Region.

Ana holds a Bachelor’s in Business Administration from Temple University and is deeply rooted in the Philadelphia community. Still, she is a true Caribbean at heart. Originally from the Dominican Republic, she is blessed to visit the islands often. When not at work, you can find her working on her social enterprise, Colectiva Clara, crafting, going on long walks in her neighborhood, dancing at home with her partner, cooking/eating, and playing and learning with her daughter/bestie.