| The Milken Institute | |
|---|---|
| Formation | 1991 |
| Type | Economic Think tank |
| Headquarters | Santa Monica, California, United States |
| Region served | Global |
| Leader | Michael Milken (Founder and Chairman) Michael Klowden (President and CEO) |
| Website | www.milkeninstitute.org |
The Milken Institute is an independent economic think tank based in Santa Monica, California that publishes research and hosts conferences that apply market-based principles and financial innovations to a variety of societal issues in the US and internationally.
The mission of the Institute, founded in 1991 by financier and philanthropist Michael Milken, is "to improve the lives and economic conditions of diverse populations in the United States and around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity."
The Institute focuses on human capital (talent, knowledge and experience of people, and their value to organizations, economies and society), financial capital (innovations that allocate financial resources efficiently, especially to those who ordinarily would not have access to them, but who can best use them to build companies), and social capital (bonds of society that underlie economic development, including schools, health care, cultural institutions and government services). It employs about 50 people.
The Institute is a 501(c)(3) nonprofit organization and is nonpartisan and non-ideological.
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The Milken Institute has published studies relating to human capital, access to capital, financial structures and innovations, regional economics, healthcare economics and medical research. It hosts a series of conferences including two annual conferences, a variety of financial innovations labs, and a series of forums and private events. The Milken Institute Global Conference, first held in 1998, is an annual forum focused on economic and social issues. Among the speakers at the conference include figures from the areas of business, finance, government, education and sports. The institute also hosts an annual State of the State Conference, which examines major issues facing the state of California.
The institute was founded in 1991 by former Drexel Burnham Lambert banker Michael Milken, who is known for his role in the development of the market for high-yield bonds (also called junk bonds) during the 1970s and 1980s and his 1990 guilty plea to multiple felony charges that he violated US securities laws.[1][2]