A Continuing Commitment A milestone anniversary is an opportunity for an organization to look back at its founding, to reflect on what has been accomplished on the journey so far and to contemplate the paths that lie ahead. For WDI, its 25th anniversary affords the Institute leadership, faculty and staff the chance to remember William Davidson’s motivation for starting the organization and to honor his vision of helping the former Soviet bloc countries transition to a free-market economy. As such economies began to emerge elsewhere in the world, the Institute reflected this shift and expanded its footprint and focus. Through all the changes, the commitment to bring market-based solutions to low- and middle-income countries remained a constant. This benchmark in WDI’s history also compels its leaders to ponder what the future holds and how the organization will adjust to changes in the world’s economic landscape. While global poverty rates have fallen precipitously in the last two decades and more people are engaged in the marketplace, income inequality still exists. And the voices of economic isolation grow louder. “In the 25 years from the founding of the Institute, we’ve gone from globalization being a new, exciting concept, to the full fruition of economies and companies interacting around the world, to recognizing some of the downsides of globalization,” noted former U-M business school Dean B. Joseph White. Despite the churn of public opinion and public policy, the vast majority of leaders around the world agree that stable countries and stable economies depend on a thriving private sector. And this is where WDI President Paul Clyde sees a renewed calling for the Institute ­ — to assist both businesses and nonprofits working toward common economic goals. “Our role at WDI is to build these partnerships all over the world: learning from each one and sharing what we’ve learned with others,” Clyde said. “Many of these organizations may be quite small on their own. But if they are able to operate profitably, we can spread the knowledge about business models that work. We can be the mechanism for scaling up these solutions.” Clyde said the Institute shouldn’t behave like a consulting firm that comes up with a recommendation and then passes it along for implementation. WDI has extensive on-the- ground experience working with local institutions, understands their challenges and is able to collaboratively develop and help implement long- lasting solutions. “We want to walk side by side with them, thinking through their business models,” Clyde explained. “There are many ways we can engage with partners to benefit them and also inform education here at U-M. “In the 25 years from the founding of the Institute, we’ve gone from globalization being a new, exciting concept, to the full fruition of economies and companies interacting around the world, to recognizing some of the downsides of globalization.” 76 William Davidson Institute