Big Philanthropy and its impact on the rest of us; where a “Facebook rant” took Guatemala; and more.
Today’s economic inequality may be nothing compared to tomorrow’s civic inequality as more activist mega-donors emerge with big money and big ambitions—at a time, I should add, when government will be spiraling down into fiscal paralysis due to soaring entitlement costs as the boomers retire. If the 20th century was the era of Big Government, the 21st Century is shaping up as the age of Big Philanthropy. This power shift is one of the most important stories of our time….Close your eyes for a moment and imagine that yesterday it was the Koch brothers who had pledged to use their entire fortune (of $85 billion) to shape the direction of U.S. society. The picture would look a bit different, right? Philanthropy is not a meritocracy, nor is there a moral litmus test for entering. Anyone with enough money can play. And as more billionaires enter this game—whether we cheer them or fear them—it’s getting harder for the rest of us to be heard in the public square.