October 13, 2008 | Read Time: 2 minutes
The new book Philanthrocapitalism: How the Rich Can Save the World is drawing cheers and jeers from a variety of readers.
In The Wall Street Journal, Richard J. Riordan, the former mayor of Los Angeles, writes that a question “hovers over” the book: Why don’t more billionaires use their time and money to fight global ills?
Mr. Riordan writes that it’s not because of greed, but because they do not know how to start in earnest.
“One way to bring these donors into the philanthrocapitalist fold may be through partnerships like those of the [Bill] Gates and [Bill] Clinton variety, because they combine prestige with ‘entrepreneurial’ social goals. Another way would be for these untapped billionaires to take a look at this book’s enlightening analysis of how they might do the most good,” he writes.
In The Financial Times, reviewer John Gapper wonders about the book’s premise during a financial crisis.
“Philanthrocapitalism? Crony capitalism or crooked capitalism, or the end of capitalism feels more like it,” he writes. Yet, he says, as the authors “argue in this thoroughly researched and enjoyable survey of the new rich and their new-found devotion to charity, as it was once known, capitalist do-gooders will always be with us.”
In The Chronicle, Phil Buchanan, president of the Center for Effective Philanthropy, a foundation research group in Cambridge, Mass., writes that the book deserves to be read, but is hollow in its idea that nonprofit groups should adopt the tactics of business.
“My hope is that nonprofit organizations respond to this book with a strong and clear voice—and do not cede ownership of crucial concepts like strategy and performance assessment to anyone,” he writes.
Several readers have responded to Mr. Buchanan’s thoughts at the end of his opinion article.
What do you think of the new book? Are there other notable reviews in newspapers or on nonprofit blogs?
