GATES FOUNDATION, GIVING PLEDGE CAMPAIGN, CARNEGIE LIBRARIES, AND PANAMA PAPERS SCANDAL

Donghyun Park

Chapter 7 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 32-37 from World Scientific Publishing Co. Pte. Ltd.

Abstract: It is not entirely accurate to view inequality and poverty as market failures because in some instances, the private sector does play an important role in fighting inequality and poverty. That is, while the government must stand at the forefront of the fight against inequality and poverty, capitalists and entrepreneurs often make sizable contributions. Take, for example, the Bill & Melinda Gates Foundation, or the Gates Foundation. It is led by two of the world’s most famous billionaires — Bill Gates of Microsoft fame and the legendary genius investor Warren Buffet — and is the world’s largest private charity foundation. Its sheer scale — more than US$40 billion in assets in 2014 — and its mode of operation — more like a business than a government bureaucracy — have turned it into an innovative pioneer in private philanthropy. Tellingly, the foundation seeks to help the poor catch fish with its work on health care enhancements and extreme poverty eradication globally, and making education and information technology (IT) accessible in the US…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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