The Cultural Contradictions of Philanthrocapitalism

David Bosworth, Society

Both Bosworth and Robin Rogers (see Why Philanthro-Policymaking Matters) critique the way philanthrocapitalists are able to ‘monopolize’ the market due to the vast policymaking and agenda-setting privileges of the ‘new global elite.’ Both authors contend that the concentrated wealth of a few individuals who select and fund global social initiatives is analogous to global public policymaking. They further argue that given the status of these wealthy individuals, philanthrocapitalists lack the constraints and accountability mechanisms typically applied to nonprofits organizations. Their critiques not only broaden understanding of philanthrocapitalism, but offer careful analyses of the strengths and weaknesses of this new model of philanthropy.

Bosworth examines the ethical and moral issues of this approach to philanthropy. Bosworth raises questions about the status of certain philanthropists and challenges assumptions that communities are well served by persons of immense wealth exerting so much influence on public policy.

Global Topics: Nonprofit Capital
Focus Areas: Nonprofit Capital
Resource Types: Article