Philanthrocapitalism: How the Rich Can Save the World [Hardcover]

Matthew Bishop (Author), Michael Green (Author)

Book Description

Publication Date: September 30, 2008

An examination of how today’s leading philanthropists are revolutionizing the field, using new methods to have a vastly greater impact on the world.

 

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.

Editorial Reviews

Review

“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

“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

“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 

“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

About the Author

Matthew Bishop is chief business writer of the Economist. Michael Green is an expert on the relationship between government and the nongovernmental sector, particularly in the field of international development. Bishop lives in London, Green in New York.

Product Details

• Hardcover: 298 pages
• Publisher: Bloomsbury Press; First Edition edition (September 30, 2008)
• Language: English
• ISBN-10: 1596913746
• ISBN-13: 978-1596913745
• Product Dimensions: 9.3 x 6.4 x 1.2 inches
• Shipping Weight: 1.3 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #673,111 in Books (See Top 100 in Books)

More About the Author

MATTHEW BISHOP is the U.S. business editor of The Economist and a former faculty member of the London Business School.

Customer Reviews

Most Helpful Customer Reviews

12 of 12 people found the following review helpful:

5.0 out of 5 stars Investing in Human Kind, December 24, 2008

By 

H. Sirkin (Chicago, IL: USA) - See all my reviews
(REAL NAME)   

This review is from: Philanthrocapitalism: How the Rich Can Save the World (Hardcover)

In this time of recession and government spending cuts, charitable organizations and medical, scientific and social research are under severe pressure to curtail their efforts. But thanks to the return-oriented support of the ultrawealthy, these programs can in many cases continue their critical work. Bishop and Green trace the history of philanthrocapitalism and focus on its implications for modern society. With their emphasis on key players like the Rockefeller Foundation, Warren Buffett and Bill Gates ("Billanthropy"), Bishop and Green provide a clear perspective on how the ultrarich are playing an increasingly important role in making investments--rather than just donations--to solve problems that will transform the lives of humankind. This book is a must-read for anyone wanting to understand the future of philanthropy.

12 of 14 people found the following review helpful:

5.0 out of 5 stars Clearing the Windshield about Social Investing, January 4, 2009

By 

Don Tapscott (Toronto, ON Canada) - See all my reviews
(REAL NAME)   

This review is from: Philanthrocapitalism: How the Rich Can Save the World (Hardcover)

I'm generally disappointed by business, and for that matter non-fiction books. It's rare to get a fresh idea, let alone one that is argued well. I've followed Mathew Bishop's work over the years was was excited to learn he had a new book. But I confess to some skepticism when I saw he had co-authored a book with a subtitle "How the Rich Can Save the World." When I look at the problems facing the world it seems to me that the rich, more than any other group have messed it up. And what a mess we have.

However, Philanthrocapitalism is a great book, and I can't think of any category of educated person who should not read it. For starters there is a lot of mud on the windshield when it comes to social investing, venture philanthrophy, philanthropreneurship, social innovation, social entrepreneurship and the like. The book provides a vivid and reach exposure to how wealth is increasingly being applied to improve the state of the world. I learned about the ecosystems of social investing, and was stunned to learn what's actually happening in this area.

For some time there has been the expression among the Corporate Social Responsibility community "You do well by doing good." I don't think this has been true. Many companies have done well by being awful - by having terrible labor practices, bad products bolstered by good advertising, externalizing costs (such as industrial emissions) on society and the like. However increasingly in the age of transparency everyone is being held to higher standards. And a new generation of people with wealth are beginning to understand that you can't succeed in a world that is failing.
And what a great read. Every single chapter was packed with interesting stories about the players who are making this happen.

I expect the book will be widely read, and so it should. But my greatest hope is that people with wealth will read it and follow the lead of their most progressive peers. How ironic, should the rich actually end up being key to making this smaller world our children inherit a better and more sustainable one?

Don Tapscott, author Grown Up Digital, Wikinomics, The Naked Corporation and other books.

4 of 5 people found the following review helpful:

5.0 out of 5 stars How The Rich Can Save The World, November 3, 2008

By 

A. A. Cave (Oxford, England) - See all my reviews
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This review is from: Philanthrocapitalism: How the Rich Can Save the World (Hardcover)

We may all be obsessed with our own financial issues in the current downturn but it is likely to make Warren Buffett even richer in the long term so don't let anyone tell you that philanthrocapitalism dies with the credit crunch.
Bishop and Green make this argument powerfully in this impressive dissection of the origins, motivations and likely direction of corporate philanthropy. There are some great stories about the rich and famous - I particularly liked the expletive-ridden exchange between P Diddy and Bill Gates - but this is not an exercise in philanthro-puffery. The authors accept that the chief motivation of many such givers is a lower tax bill. This is a highly-readable, well-crafted exposition of why that shouldn't make a jot of difference.