As the old adage warns, “You can’t take it with you.” Heeding this admonition, billionaires Bill Gates, Warren Buffett and others of their ilk have pledged to donate their riches. Could this new era of philanthropy rival the golden age of Andrew Carnegie and John Rockefeller? In this topical interview with The Atlantic editor Corby Kummer, Matthew Bishop, a business editor at The Economist, explains Americans’ philanthropic tendencies. getAbstract recommends Bishop’s thesis to the wealthy, particularly members of the 1%, who need guidance in giving.
In this summary, you will learn
- Why a new golden age of philanthropy is emerging,
- Why solving social problems necessitates capital donations from private philanthropists, and
- Why philanthropy requires standard metrics to measure its impact and reduce waste.