Philanthrocapitalism: How Giving Can Save the World
A new generation of super-rich donors — Gates, Soros, Buffett — is bringing the tools of business to the business of changing the world. Matthew Bishop and Michael Green coined the term “philanthrocapitalism” to describe this phenomenon, and in this landmark book they examine what it means for charity, democracy, and the future of giving.
When Warren Buffett pledged the bulk of his $44 billion fortune to the Bill and Melinda Gates Foundation, it was the largest act of private philanthropy in history. It was also a signal that something fundamental was shifting in the world of giving. A new kind of philanthropist had arrived: wealthy beyond the imagination of earlier generations, impatient with the traditional methods of charity, and determined to apply the disciplines of venture capital and business strategy to solving the world’s most intractable problems.
Matthew Bishop, US Business Editor of The Economist, and Michael Green coined the term “philanthrocapitalism” to describe this emerging force. In this wide-ranging and provocative book, they profile the key players — Gates, Buffett, Soros, Oprah, Google’s founders, and dozens of others — and assess what their rise to philanthropic dominance means.
The philanthrocapitalists believe they can achieve things that governments and traditional charities cannot: moving faster, taking greater risks, and applying rigorous measurement to what works and what doesn’t.
Do philanthropists truly fill the gaps that governments and markets leave?
But the book is not uncritical. Alliance Magazine’s interview with the authors pressed them hard on the democratic deficit at the heart of philanthrocapitalism: when the super-rich have so much unaccountable power to shape public life, is this a sign of a healthy or a sick society? The authors’ answer — that philanthrocapitalists fill gaps that government and markets leave, and that the best of them actively seek to empower communities rather than impose solutions — is persuasive but contested.
For UK fundraisers and charity leaders, Philanthrocapitalism is essential reading for understanding the mindset of major donors who have been shaped by this global movement, and for thinking clearly about the opportunities and risks that large-scale strategic philanthropy brings to the sector.
The book was originally published in the USA by Bloomsbury Press (2008).
About Matthew Bishop and Michael Green
Matthew Bishop is the US Business Editor and New York Bureau Chief of The Economist. He has reported on business and economics for over twenty years and has written extensively on philanthropy and social entrepreneurship. Michael Green is an economist and writer who has worked for the British government and various think tanks. Together they also wrote The Road from Ruin: A New Capitalism for a Big Society.
Reviews
“Philanthrocapitalism is transforming our world, and this thoughtful and well-researched book provides the essential guide to understanding how and why.”
Klaus Schwab, Founder and Executive Chairman, World Economic Forum
“Bishop and Green offer a thought-provoking overview of the new philanthropy. Whether you are a fan of philanthrocapitalism or a sceptic, this book will challenge you.”
Caroline Hartnell, Alliance Magazine
Buy on Bookshop.org Buy on Amazon“An important book about a growing phenomenon that deserves more critical scrutiny than it usually receives.”
Financial Times
