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2min chapter
MrBeast: Capitalism & Philanthropy
Then & Now: Philosophy, History & Politics
The Rise of Philanthropy
One study in 2012 found that just 7% of donations reached causes that could be defined as a benefit to the average in need person. Another study found that 55% of grants went to large organizations with budgets over $5 million already. Most donations went to religious or cultural foundations like churches, institutions and museums and galleries which are much more likely to be frequented by the wealthy associates of the wealthy. What we're witnessing is the transfer of responsibility for public goods and services from democratic institutions to the wealthy - an executive class.
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