Social Impact of People-Centered Economic Development

In the P-CED white paper the case is made for an alternative to capitalism which can be “measured and calibrated in human terms” . The report below was requested by and delivered to the RBS SE 100 Index for 2011.  Given the sensitivity of the issues, it would have been unwise to reveal the impact of a  production agreement for medical isotopes while Terry Hallman was still alive.

People Centered Economic Development – Social Impact Report – March 2011

P-CED is a profit-for-purpose business operating from the UK which invests in social return. Over the past 7 years since UK incorporation, the major focus of our work has been in Ukraine and the issues of poverty and childcare reform.

The strategy plan described as ‘Microeconomic Development and Social Enterprise : A Marshall Plan for Ukraine’ was presented in October 2006. In this paper four components for social change were proposed and included reforms to the provision of institutional childcare, deployment of affordable wireless broadband, microfinance assistance for development of small business and a centre for social enterprise backed by a social investment fund. The overall theme was one of a new approach to capitalism in which profit would be invested for social as well as financial return.

In the interest of IP protection to spread awareness the plan was published in an online news portal in August 2007.   Part One addressed the issues of childcare, microfinance and broadband. Part Two offered the plan for social enterprise development and a summary which was to weigh the cost of this ‘soft power’ strategy against the then weekly cost of war in Iraq.

Significant impact

First impact in 2007 was observed in government pledges for 400+ rehab centres for   disabled children. It was soon followed by the doubling of adoption allowances and a pilot for the suggested ‘Homes for all Children’ strategy, based in Kharkiv.

By the end of 2010, childcare policy changes were reported to have resulted in a 40% increase in domestic adoption. This was reported in the Kyiv Post as Ukraine’s ‘Overlooked Success Story’

Also in 2007, Ukraine rolled out affordable broadband on a national scale using Nortel wireless technology. Take up continues to spread during 2010/11. Soon after, US government in response to the call for support ‘financially, or in any way possible’, launched the East Europe Foundation.

In 2010 a joint initiative for social enterprise development was announced, bringing together The British Council, East Europe Foundation, Erste Bank and Price Waterhouse Coopers.

In 2011 Harvard Business School joined the advocacy for capitalism for social outcomes, with the publication of ‘Creating Shared Value’ in Harvard Business Magazine. It had also been observed in the call made by David Cameron at Davos 2009, in the same context of protecting families.

In February 2011 The Sunday Times published an article on the children’s facility at Torez in Ukraine. It was to verify the report made in 2006 describing ‘Death Camps for Children’ in Ukraine. This had been cited as an ‘Example of Excellence’ in the BT Betterworld awards of 2008.  The vulnerable children described in the report were the central focus of the strategy paper which had led to the impact described above.

The amount of $5 million in payment outstanding from beneficiary government agencies for use of intellectual property is carried forward to the financial year ending in 2011.

People-Centered Economic Development may be contacted through their web site at or the address below:


Briarwood, Folly Road

Parkend, Lydney

Glos. GL15 4JF

Tel 01594 888068


2 thoughts on “Social Impact of People-Centered Economic Development

  1. Super discussion. Very well thought out. Absolutely will share.

  2. DayProfBrots says:

    Greetings! Very useful advice in this particular article! It is the little changes which will make the greatest changes. Many thanks for sharing!

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