The Tyranny of Philanthrocapitalism


Diane Ravitch's blog

Antonio Olmedo writes here about the new undemocratic, unaccountable Philanthrocapitalism, as embodied by the Gates Foundation:


In 2008, in their Ode to philanthrocapitalism, Bishop and Green claimed that philanthrocapitalists are “hyperagents who have the capacity to do some essential things far better than anyone else”. Apparently, the fact that they “do not face elections every few years, like politicians, or suffer the tyranny of shareholder demands for ever-increasing quarterly profits, like CEOs of most private companies” or that they do not have to devote “vast amounts of time and resources to raising money, like most heads of NGOs”, situates them in a privileged position to “think long term”, to go “against conventional wisdom”, to take up ideas “too risky for government” and to deploy “substantial resources quickly when the situation demands it”. These new super agents can solve the problems of the world, and do it fast, cleanly, and absolutely.

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