When Bill Gates and Warren Buffett stood on stage together at the New York Public Library and the elder billionaire announced the he was going to give away most of his fortune through the Bill and Melinda Gates Foundation to help the poor, a new ideology was born.
 |
Matthew Bishop |
According to Matthew Bishop, US business editor and New York bureau chief of The Economist, and co-author of ‘Philanthrocapitalism: How Giving Can Save the World’, that was the seminal moment for philanthrocapitalism, essentially a marriage of philanthropy and capitalism.
“That struck me as a genuinely unique moment in history, and a moment which needed to be understood. It raised many, many questions about the responsibilities of wealth, the opportunities that wealth gave, and about the future and nature of capitalism.”
These questions, he says, have become more relevant since the global economic crisis, which has resulted in a lot of new questions being asked -- about what this force of capitalism is, how do we get a capitalism that actually works with society, rather than against it.
To read the full, original article click on this link: Social innovation; Philanthrocapitalism
Author: Karen Cho
