In Defense of Philanthrocapitalism
When Mark Zuckerberg, the C.E.O. of Facebook, announced that he would be donating ninety-nine per cent of his Facebook stock to a new nonprofit organization, he got his share of positive headlines.
But the move was also dismissed as a tax-avoidance scheme, a public-relations gambit, a way to boost Facebook’s profits under the guise of doing good, and the latest expression of the “white savior industrial complex.” The economist Thomas Piketty, the author of “Capital,” said simply that the donation “looks like a big joke.”
Yet philanthropic investment in global projects continues to increase. Anne Petersen, the president of the Global Philanthropy Alliance, told :
“American philanthropy used to be all about giving locally. But there’s been a dramatic trend toward international giving, and that’s only going to continue.” It’s reasonable to lament the fact that a small number of billionaires have so much power over which problems get dealt with and which do not. But they have that power precisely because they are spending so much of their money to solve global problems. We, as a country, are not.”
Read the full article on “The New Yorker” website
Learn more about Philanthrocapitalism
Related Articles
Syria: Describing the toll of war on health in absentia
04/03/2017. In our line of work, we rely on numbers. The numbers guide us to where the needs are. They tell us what is making people sick. They indicate how difficult it is for some to access healthcare.
After Davos, let’s turn talk into action
01/29/2019. Combining humanitarian expertise, local know-how, and private sector acumen could help aid 800 million people around the world
Ben Stiller and Social Media Stars Launch ‘Love Army’ to Aid in Somali Crisis
03/22/2017. Celebrities have banded together for a viral fundraising campaign to help offset the humanitarian crisis in Somalia, raising more than $2 million in less a week.
