Does Philanthrocapitalism Make the Rich Richer and the Poor Poorer? - Evonomics
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What’s remarkable about the growing number of philanthropic foundations over the past two decades is that increased giving hasn’t made a dent in reducing growing levels of economic inequality. In fact the opposite appears to be the case. What to make of the fact that growing philanthropy and growing inequality seem to go hand-in-hand? Does philanthropy actually make the rich richer and the poor poorer?
Straightforward assertions of causality are hard to make, as multiple factors contribute to widening wealth divides. But there are a number of reasons why growing levels of philanthropy might exacerbate growing inequality rather than mitigate it.