Top philanthropists and charity executives explain how they would spend $10 billion to best alleviate the world's problems
At this year's World Economic Forum in Davos, Bill Gates, the chairman of Microsoft Corp., committed $10 billion over the next decade to help develop vaccines and distribute them to children in the developing world. By anyone's estimation, this is a lot of money and a worthy cause.But could it be spent even more wisely?
The Journal Report:
It is now easier than ever before to try and answer this kind of question. A new breed of philanthropists—of whom Mr. Gates is one—have emerged from the worlds of business and finance looking to apply the same zeal to donating money as to making it. They have brought with them concepts like due diligence, transparency and accountability—ideas that thrive on quantifiable data. At the very forefront of this movement are those—variously called philanthrocapitalists, impact investors or social entrepreneurs—who argue the best way to solve the enormous problems the world faces is to harness not just business practices but also market forces. Traditional charities balk at the inferred superiority of market economics over human generosity and worry that profit-seeking might obscure the primary aims of philanthropy.
But even the traditionalists concede that more giving does not necessarily equate to better giving. Greater analysis than ever goes into assessing and tackling not just problems but, more importantly, their root causes. A dollar spent addressing these can be worth ten, a hundred or even a thousand times as much as when spent on dealing with the resulting humanitarian crisis.
This understanding has sparked tremendous innovation and creativity in the social sector. The Wall Street Journal Europe asked prominent philanthropists and charity executives how they would spend $10 billion to achieve the biggest and longest-lasting impact on the world's problems.
0 comments on "Bill gates:Attempt To Financial Recovery"
Subscribe in a Reader
Post a Comment