5 Quotes by Linsey McGoey

What's the best way to make sure that the poor have a share in a country's growing wealth: Regulation? Taxes? Philanthropy?

private philanthropy is no substitution for hard-fought battles over labour laws and social security, in part because philanthropy can be retracted on a whim, while elected officials, at least in theory, have citizens to answer to.

Quite ironically, the answer to ineffective philanthropy is more of it: the failure of philanthropy is its own success. The perceived necessity — even the indispensability — of a donor like the Gates Foundation grows in proportion to its own inability to achieve the unachievable: mitigating the very inequalities that its own presence might be inadvertently compounding.

This, fundamentally, is philanthrocapitalism in action: introducing policies that help concentrate wealth in the upper echelons of society in the hope that the wealthy will donate to the financially strapped rest.

the Carnegie approach to wealth: increase concentration at the top and hope wealth reaches the masses through charitable bequests.