“A terrific book
about how
private money
can help solve
even the most
difficult public
problems.
Philanthrocapitalism
is the
definitive guide
to a new
generation of
philanthropists
who understand
innovation and
risk-taking, and
who will play a
crucial part in
solving the
biggest problems
facing
the world.”
—Mayor Michael
Bloomberg
“Everything you
need to know
about the
revolution
underway in the
world of
philanthropy—its
potential as
well as its
challenges. An
indispensable
book for anyone
who cares about
helping the
world’s four
billion poor get
a chance to live
their dreams.”
—Hernando de Soto, author of
The Mystery of
Capital
Can philanthropy
keep pace with
all the problems
of in our
changing world?
Certainly the
old model
couldn’t. But a
new generation
of donors (like
Bill Gates,
Warren Buffett,
and Angelina
Jolie) have
taken a radical
approach to how
their money is
spent and
invested. They
are the
philanthrocapitalists,
a term coined by
The Economist’s
Matthew Bishop
to describe a
new breed of
super-rich
“social
investors.”
Bishop and his
co-author,
development
expert Michael
Green, are the
first to
document their
rise on the
global scene and
the impact they
are having on
charity.
Philanthropy for
centuries has
more or less had
the same simple
formula: spend a
lifetime
accumulating
wealth, then
give it away.
But for
21st-century
entrepreneurs,
accustomed to
achieving
success on a
grand scale—and
solving problems
across national
borders—that
isn’t enough. To
make the most
efficient and
effective use of
their donations,
they insist that
the agencies
they support be
accountable and
sustainable,
with the same
rigorous
management and
focus on
measurable
success that
defines their
for-profit work.
Based on
interviews with
money men like
Gates,
Bloomberg, Soros,
and Branson,
celebs such as
Bono and Shakira,
and politicians
like Clinton and
Bloomberg,
Bishop and Green
discovered that:
“Philanthrocapitalists
are developing a
new (if
familiar-sounding)
language to
describe their
businesslike
approach. Their
philanthropy is
‘strategic,’
‘market
conscious,’
‘impact
oriented,’
‘knowledge
based,’ often
‘high
engagement,’ and
always driven by
the goal of
maximizing the
‘leverage’ of
the donor’s
money. Seeing
themselves as
social
investors, not
traditional
donors, some of
them engage in
‘venture
philanthropy.’
As
entrepreneurial
‘philanthropreneurs,’
they love to
back social
entrepreneurs
who offer
innovative
solutions to
society’s
problems
Are these
billionaires the
solution to the
world’s crises?
PHILANTHROCAPITALISM
argues that
there is no one
silver bullet,
but that the
efforts of this
class amount to
an essential way
forward. Not to
mention an
inspiration—along
with portraits
of some of the
world’s most
innovative
charitable
thinkers, Green
and Bishop offer
examples of how
the rest of us
can effect
change.
ABOUT THE
AUTHOR:
Matthew Bishop
is the
New York
bureau chief of
the Economist
and an
award-winning
writer on issues
concerning
business and
society. He was
a member of the
Advisors Group
to the United
Nations Year of
Microcredit in
2005. His
previous book is
Essential
Economics.
Michael Green
taught economics
at Warsaw University under a Soros-funded program in the early
1990s before
joining the
Department for
International
Development (DFID),
where he managed
the
UK
aid programs to
Russia
and the
Ukraine and ran the communications
department.
Having taken a
sabbatical from
DFID, he is
writing here
in a
personal
capacity. He
lives in London.
Philanthrocapitalism:
How the Rich Can
Save the World
Matthew Bishop &
Michael Green
ISBN
1-59691-374-6
Pub date:
October 1, 2008
$27
·
308 Pages
·
6 1/8 x 9 ¼