Funding the "press freedom deficit"

For the first time a "social bond" will be listed on the Zurich stock exchange, according to Bruno Giussani. The instrument, named "Voncert responsAbility Media Development," will help fund open media in restricted societies while providing a financial return to investors.

The Financial Times also has this story.

Sasa Vucinic, who announced at TEDGLOBAL last year his intention to sell "free press bonds," is a social entrepreneur and the managing director of Media Development Loan Fund, which will launch the security on May 18. Bruno's blog, Lunch over IP, also listed him as one of the most interesting people in 2005.

Like conceptual or prediction markets, bonding social goals like this strikes me as an innovative way to use the power of the market to spread ideas as well as wealth.

And who knows, it might even help treat my heart disease.


Technorati: business of innovation, innovation, prediction markets