Philanthrocapitalism - Matthew Bishop and Michael Green

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Philanthrocapitalism

How Giving Can Save the World

Matthew Bishop and Michael Green

Bloomsbury Press, November 2009
ISBN: 978-1-59691-695-1, ISBN10: 1-59691-695-8,
5.5 x 8.25 inches, 320 pages,
Trade Paperback, $18.00

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For philanthropists of the past, charity was often a matter of simply giving money away. For the philanthrocapitalists—the new generation of billionaires who are reshaping the way they give—it’s like business. Largely trained in the corporate world, these “social investors” are using big-business-style strategies and expecting results and accountability to match. Bill Gates, the world's richest man, is leading the way: he has promised his entire fortune to finding a cure for the diseases that kill millions of children in the poorest countries in the world.

In Philanthrocapitalism, Matthew Bishop and Michael Green examine this new movement and its implications. Proceeding from interviews with some of the most powerful people on the planet—including Gates, Bill Clinton, George Soros, Angelina Jolie, and Bono, among others—they show how a web of wealthy, motivated donors has set out to change the world. Their results will have huge implications: In a climate resistant to government spending on social causes, their focused donations may be the greatest force for societal change in our world, and a source of political controversy.

Combining on-the-ground anecdotes, expert analysis, and up-close profiles of the wealthy and powerful, this is a fascinating look at a small group of people who will change an enormous number of lives.

Praise

"Terrific."—Nicholas D. Kristof, The New York Times

"Important. Well-written. Timely. Here in this wonderful book, Matthew Bishop and Michael Green shine a light on sparkling examples of effective philanthropy, and how some of the most accomplished people are trying to solve the world's most intractable problems. A superb portrait of a vital new force shaping the world today, Philanthrocapitalism deserves to be widely read."—Jim Collins, author of Good to Great

"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 under way 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

"This is an important book. Our interdependent world is too unequal, unstable, and, because of climate change, unsustainable. We have to transform it into one of shared responsibilities, shared opportunities, and a shared sense of community. Bishop and Green show us how to do it."—Bill Clinton

"Without question the best book now available on the global explosion of philanthropy, the new forms of giving and volunteering, and the many variations of social entrepreneurship. Indeed, it is the only book that provides a comprehensive, worldwide view of this new age of charity. In reader-friendly prose, notable not only for its felicity but also for its lack of jargon, Bishop and Green document the state-of-the-art practices with which the flood of philanthropic dollars is being turned toward the world's critical social problems."—Joel Fleishman, author of The Foundation

“Matthew Bishop’s and Michael Green’s stunning book provides keen and penetrating insights into the growing significance of the new philanthropists and their commitment to use their wealth to change the world and deploy their wealth with capitalistic rigor. It is a must read for anyone searching for creative approaches to solving the world’s problems.”—Bill George, author of True North and former chair & CEO of Medtronic

"Philanthropy as practiced by the current generation of superrich is different from that practiced by earlier generations. Whereas once the superrich would have been willing to simply give their money away to good causes, today they are 'social investors' using their business experience and business-style strategies to bring about social change and expecting both accountability and results. Bishop (economics journalist, The Economist) and Green (development economist) discuss the philosophy, strategy, and tactics of a small sample of 'philanthrocapitalists.' The most recognizable include Bill Gates, Warren Buffett, George Soros, Richard Branson, Bill Clinton, Angelina Jolie, and Bono. The authors use personal interviews they and others have conducted, as well as expert analyses. The result is not traditional economics scholarship, but rather a well-researched journalistic account of the activities of a group of individuals whose past success has given them extraordinary influence over the future of the world . . . Recommended. All collections and readers.—R. S. Rycroft, Choice magazine

About the Author(s)

By Matthew Bishop and Michael Green

Matthew Bishop is chief business writer for the Economist. He lives in London.

Michael Green is an expert on the relationship between government and the nongovernmental sector, particularly in the field of international development. He lives in New York.