When Markets Are In Trouble, Charity Is Too

Katherine Mangu-Ward | November 12, 2008

From The New York Times:

In recent years, rapid wealth creation, particularly on Wall Street, has resulted in a surge not just in giving, but in a new, businesslike approach to giving that I call “philanthrocapitalism.” Now, people are asking whether the recent struggles of some of capitalism’s biggest winners, and the growing suspicion of some of capitalism’s core methods, including Wall Street’s use of leverage, mean that philanthrocapitalism is in trouble, too.

Read the rest for namechecks of the X Prize and Cory Booker. The piece is by Matthew Bishop, who cowrote Philanthrocapitalism: How the Rich Can Save the World.