Why Social Enterprise Now?

I know that I am not alone in my excitement for social enterprise; the topic seems to be everywhere look. From magazines like Motto to activity at schools like Harvard Business School to stories in the paper. But I'm curious to know why now.

One thought is that there are so many large social problems to be addressed now. Global warming, recovery from Katrina, preparation for the water shortage (if you didn't read the eye-opening and compelling story about water in the West in last Sunday's New York Times Magazine, do so) -- these are all problems to be solved and sources of opportunity that are not best addressed through either traditional private sector or non-profit means. Entrepreneurial drive with a social heart is clearly part of the solution. People want to do something to address these challenges.

Another is that it is fallout from the new employer/employee contract. Traditional employers don't provide the benefits they once did, aren't interested in employees for life, layoff workers regularly, demand longer hours, and have kept wages for the average worker flat while executive pay has risen. I think that a fair number of people look at that prospect and say, "The hell with that. If I'm going to give that much of myself it is going to be for something I'm passionate about. The next 'new and improved' paper towel just isn't it." Social enterprise gives people the prospect of making a decent living and feeling good about what they are doing.

A third is a new generation of philanthropists. Google started a for-profit philanthropy. Capitalist stalwarts like HBS professor Michael Porter have gotten involved. Social venturing is hip. Social enterprise is simply more possible than it was five years ago.

What do you think? What do you see as driving the social enterprise movement?