A new book criticizes "philanthrocapitalism;" the big philanthropy that is meant to end poverty, but has done little to raise the income disparity.
"It's not easy to criticise philanthropy when the need for giving seems stronger than ever. And criticising the Bill & Melinda Gates Foundation – royalty of the philanthropic world – is particularly difficult.
"But that is precisely what Linsey McGoey, a lecturer in sociology at the University of Essex, takes upon herself in her new book. It's a critique of philanthrocapitalism in general and the $42bn Gates Foundation in particular.
"She argues that the many foundations set up in the past two decades have had little effect on reducing economic inequality. 'What to make of the fact that growing philanthropy and growing inequality go hand in hand?' she asks. 'Does philanthropy actually make the rich richer and the poor poorer?'"--Stephen Cook, the Third Sector