Charity: how effective is giving?

Today’s super-rich are putting record sums into tackling the world’s most pressing problems. But how altruistic is this golden age of charitable giving? Read more here: econ.st/3aHRmjc. Film supported by Mishcon de Reya
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Today’s super-wealthy are richer than ever. And they’re giving away their billions like never before. Philanthropists are putting record sums into tackling the world’s most pressing problems. And unlike the mega-donors of the past today’s philanthropists want to see the results in their lifetimes. But how altruistic is this new golden age of giving? Have these mega-donors become too powerful?
The way charities work is increasingly under the microscope. Donors large and small are demanding better bang for their buck. This is leading to innovative new approaches to doing good which are redefining notions of altruism.
Hilton Douglas is an outreach worker for Urban Pathways, a non-profit benefiting from a recent explosion in charity amongst wealthy Americans. There are record numbers of homeless people in New York and every day Hilton tries to help some of the worst affected. In 2018 spending by charitable foundations reached a record $75bn in America. The charity Hilton works for is one of 250 that are backed by New York’s largest and best-known foundation Robin Hood.
Robin Hood provides a small percentage of Urban Pathways’ total income. But the foundation also donates strategic and operational assistance. Urban Pathways runs outreach programmes and a drop-in centre and provides a roof for around 850 men and women each night.
Every year Robin Hood stages America’s biggest, glitziest fund-raising gala where it raises over 60% of its annual funding in three hours. While the average annual donation to the foundation is $108 the gala has helped Robin Hood become renowned as the charity of choice for hedge-fund managers and bankers. Over the past 30 years it’s raised and spent around $3bn fighting poverty in New York.
Paul Tudor Jones founded Robin Hood. An investor and hedge-fund manager worth around $5bn, he believes private philanthropy leads the state in dealing with society’s problems. Journalist Anand Giridharadas spent three years exploring the motivations of America’s wealthy philanthropists. He has concluded that some of their business practices create the very social problems their philanthropy tries to address.
Since 2011 former mayor of New York, Michael Bloomberg has donated over $500m to campaigns to replace coal with clean energy in the US by 2030. But in taking on the battle against climate change Mr Bloomberg has also taken on other billionaire philanthropists on the opposing side of the debate. For decades oil barons Charles Koch and his late brother David have given billions of dollars to non-profit organisations in order to promote scepticism about global warming. The Kochs’ donations have had a huge impact on strengthening the climate-change denial lobby in America. But Michael Bloomberg’s donations to his campaign Beyond Coal have proved an influential counterbalance. So far these have helped retire 289 coal plants, more than half the countries total.
America has witnessed the spectacle of its most-renowned philanthropists battling it out over one of the world’s most important political issues. It raises a fundamental question. How much political power should wealthy but unelected philanthropists wield?
While powerful and wealthy philanthropists are increasingly giving away their money. Fewer people on average are giving in the developed world than two decades ago. It’s a decline that’s coincided with scandals that have rocked some of the world’s best-known charities. Little wonder charities are now experimenting with innovative new approaches to persuade donors to part with their cash.
In the past ten years effective altruism has contributed over $100m in donations towards Against Malaria Foundation. The charity says this has helped fund the distribution of 50m bed nets worldwide, protecting 90m people and saving around 30,000 lives. But effective altruism, EA, has its critics who say giving is not a science and that there is more to charity than cold hard numbers. This scientific approach to charitable giving and work is on the rise and is assuming innovative new forms. It’s being used by some of today’s class of billionaire philanthropists. How this plays out alongside their rising power will help to redefine the impact of altruism. And how it’s perceived.
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[@shutupandance]

”Real altruism would be doing less harm.” Spot on.

[@teerificbitch]

Lol that's literally taking away all responsibility of the less fortunate people and putting it into the rich's hands. Cute.

[@laMoria]

@@teerificbitch Some are being forced to work 24/7 to earn a $900 a month and fear that if they are not competitive enough, they will loose their job. Such a lovely society.

[@kaushikvsmaniyan]

@@laMoria that is change, every era has had it..try to visualise the people who were casualties of the switch from the agrarian age to the industrial one. The old has to give way to the new (& young)

[@stupifyingstupedity2112]

@@teerificbitch Lol that's literally taking away responsibility from the most powerful and putting it in the hand of the powerless. Cruel. I mean cute. I mean... What DID you mean??

[@BBBarua]

If "charity" is based on "love" and purely "given," then why do corporations and the wealthy need a tax break?

[@shahidulhchowdhury6411]

To encourage them giving more money!

[@jakethesnake2x]

@@shahidulhchowdhury6411 But the tax break will just get bigger, and force more taxes on the poor and middle class, did you not watch the video?

[@charlech]

So they can give out more to the causes they care

[@FootysMaXeD]

Because it's not about "love" as this propaganda outlet for Capitalism would have you believe. It is about power to choose who they think is worthy of societies assistance. It is absolutely anti-democratic and at the mercy of out-of-touch billionaires trying to whitewash their bad images.

[@simstander5471]

The rich can argue that Government are corrupt and fail their people

[@msship8234]

Paying their employees living wages would be enough. No charity needed.

[@worldaccordingtotij4058]

But then how would they build clout and become worshiped as living gods?

[@yespapa8102]

*plays Soviet music

[@MertonDingle1111]

Minimum wage is decided by the government.

[@mountains889]

is that what you say to the unemployed homeless guy on the street or do you give them a buck?

[@samlucas3076]

No false. that would be wrong, charity choice are personal, raising wages involves higher costs for the business and higher risks for stockholders.

[@Somerandomdude-ev2uh]

"Innovation comes from the private sector" Bit of research online shows a lot of modern tech companies started because of public sectir loans or research

[@TheCyberianWonder]

That's tech innovation. Nonprofits provide socially oriented innovations that can inform and influence public policy

[@njagimwaniki4321]

Monetization comes from the private sector.

[@justjackman]

Like the internets

[@justjackman]

DARPA 🤘🏻

[@thedepthsofrepair]

The innovations don't seem to be changing much insofar as reducing human suffering. Many foundations allow the rich to park tons of cash for later.

[@deeb3272]

Charity = A WAY TO DODGE TAXES

[@alenpaul2523]

So what ?

[@deeb3272]

@@alenpaul2523 so what what

[@Spikeupine]

Does donating give you a bigger tax break than what you donate?

[@benjaminfranklin4760]

At least it’s going to charity rather than Uncle Sam

[@ev.c6]

Rich dude: "In a perfect world a government should act in the interest of its people. Private charity wouldn't exist." * Agrees in Denmark *

[@videomakville]

It's usually the same wealthy people and corporations who lobby the government's attention and resources away from the 'interest of the people' who say the government isn't acting in the 'interest of the people'.

[@ndimec2117]

@@videomakville thank you....took the words out of my mouth. Totally agree

[@PSYCO89one]

"In a perfect world a government should act in the interest of its people. Rich guys wouldn't exist"

[@ev.c6]

@@PSYCO89one Being rich should not be a problem, what is a problem is letting people not pay proportional taxes as they get richer.

[@jayzxyang]

isnt this socialism though?

[@gamewithadam7235]

The problem with charity is it never explains how much will solve the problem.

[@Chandankumar-qw6hb]

😊

[@andresfernandes5906]

"An arsonists' convention where everyone thinks s/he's a fire-fighter."

[@Karyabs]

Well put. Why accumulate it in the first place

[@truthsupreme]

Are we now quoting lines in the video?

[@IndigoBellyDance]

Best response ever!!!!

[@astronautical.engineer]

Does anyone genuinely believe that charity from the wealthiest in society comes from altruistic intents? They did not do everything in their power to acquire their wealth to give it away. Charity saves them more than they give away. It is a financially motivated decision no different than all others. edit: typo

[@555Trout]

What's your point? Everything we do is based on "self interest".

[@bluzshadez]

I've always been taught this, "Give man a fish and he will eat once. TEACH that man HOW TO fish and he will eat all his life." Some people just need a "push to the right direction." It's not just free money, free roof above their heads or free food that poor or homeless people need. Training for potential jobs will change their lives.

[@bluzshadez]

Lu G. “Teach that man how to fish and he will eat all his life.” if you’ve inly read between the lines, that means training for jobs/ to earn a living. Not every word written is limited to its literal meaning. Logic has to be applied when analyzing words, sentences, paragraphs, narratives.

[@alexeialeksandr7606]

Maybe that mindset isn't profitable enough? Also, someone once told me that rich people need poor people because if everyone started moving up the ladder, they wouldn't "feel rich enough" anymore and that isn't something they're willing to give up.

[@bluzshadez]

@@alexeialeksandr7606 It's not just about something being lucrative. It's about having the determination to get out of the living situation.

[@LillyNotFlower]

@@alexeialeksandr7606 literally ego problem of sociopaths 😒 EAT THE RICH

[@FootysMaXeD]

@@alexeialeksandr7606 It's about keeping poor people desperate enough to keep working for stagnant wages because they're all competing for crumbs while the rich ransack our society. Socialism for the rich, rugged individualism for the poor.

[@JamesLee-do7yq]

The last time philanthropic endeavours were as high (relative to gdp) as they are now was c100 years ago at the peak of the Gilded Age (also the highest levels of inequality up until now.) The Vanderbilt’s, Rockefeller’s, Rothschild’s etc lobbied on the behalf increasing philanthropic responsibilities in lieu of in increased taxes. It worked until post WW1. Philanthropy went up but nothing really changed for the proletariat until mandatory taxes were introduced. Long story short. Last time taxes were this low and philanthropy was this high, inequality was at its previous peak and 2 world wars happened. In the words of Rutger Bergman: “Taxes, taxes, taxes”.

[@mycomment3509]

"What do we want?" "Green gas" - Sorry, no. We don't want any fossil energy. So much about Bloomberg.

[@mateuszbieniek4791]

I have mixed feelings about this video. Did it address the main question in the title? It was 26 minutes of poorly glued superficial content I would say. But hopefully the ideas will get covered more.

[@gloria1559]

Can't agree more

[@sibtainali3814]

Totally Agree with that.

[@AlyssonAugusto]

It's insane how someone can criticize EA just because this movement really use logics on their activities.

[@jayzxyang]

just worry about one day someone will ask them for analysis of their results

[@virtualdrudgery]

Disclaimer: "This video is sponsored by Michael Bloomberg"

[@tresgrospoutou]

well the economist is own by the bilionaires so they are just a PR for liberalism and the 1%

[@inderjeetsingh4746]

@@tresgrospoutou Several poor people ARE CAUGHT IN BIG PROBLEM please report (please cover) INDIA 1 FEBRUARY *no* to *CAA* ... *NEWSstaff*.. People r unhaply how they can show documents(paper) in country like india because several people r uneducated they not maked/make any paper , some r so poor, some lost their papers (documents) with huge water(flood) so their r 100 problems so they have no document(paper)

[@MichaelRockfez]

albarinos asuqwet Billionaires don’t just play with “liberal news.” They’re the ones always pushing supply-side economics in our government (which primarily comes goes to the right), but not paying workers enough regardless.

[@cookiecola5852]

Great way to make their case to tax them more? Cuz why not🤷🏻‍♀️

[@sibtainali3814]

@@inderjeetsingh4746 And sadly now we are facing tyrants who against our Indian farmer. It's been more than 3 months since farmers protest

[@matthewleitch1]

The 'tax breaks' mean that money given to charities is not taxed and, consequently, the charity gets more money. The person who gives to charity does not end up with more money than they started with.

[@inkooh8]

8:18 -8:57 Well said! "....It's an arsonists convention in which everyone is under the mistaken impression that they are firefighters."

[@MR-op3mo]

What poor countries, that are generally run by corrupt governments, need to understand is that while corruption may enrich themselves, money eventually runs out because the people are poor. Governments need to understand that the success of their people means a richer country, a more powerful country that can become involved in geopolitics. Rich countries need to help these governments through advice and counsel...and money should only be part of the deal when governments provide a plan that will allow their country to grow economically. I don't know, but this has got to happen. Technology etc. should be shared to allow countries to develop! Stop giving and begin producing solutions to poverty and lack of education!

[@gustavschersten3290]

Jesus Christ what is going on in this video?!? It's like two different videos with a massive Bloomberg ad in between them and not one second even touches upon the question raised in title.

[@caringforall4454]

Billionaires charity is like the philandering husband buying his wife flowers -just placating to avoid suspicion

[@angelabakloyvovtchaikovsky1609]

American law is freedom of all. There is no corruption in america

[@galaxya6406]

@@angelabakloyvovtchaikovsky1609 There is no coutry named USA in the top 10 least corrupted nation

[@banunajah]

Are the mosquito nets being giving are locally made? There was an issue with this practice of NGO companies sourcing the mosquito nets from developed countries instead of using locally made nets. And as a result businesses lost revenue that would have been circulated within the community.

[@SplatterInker]

Classic colonialist economic model. Make the colonies break backs for raw materials. Make poor break backs in own country to make goods. Sell back to poorer country for profit.

[@bidbadgray]

I absolutely agree, I'd worry that outsourcing will definitely increase the bill, give a man a net and he can protect his own family, give a man/woman the tools/machinery and you solve the problem and start an industry 😉

[@bidbadgray]

I don't have all the answers but some are fairly obvious

[@silversolver7809]

"According to the World Bank … China's poverty rate fell from 88 percent in 1981 to 0.7 percent in 2015" A generation to lift ~850M people out of severe poverty, with the aim of eradicating it completely in 2020. ~ By the same token, previous government policies had caused such abject poverty in the first place. ~ If those two don't make clear how much more influential government is/can be than private…

[@diogocoelho293]

china is a capitalist economy, they open their country to foreign investment

[@brightngbor9558]

Apart from tax benefits, they also buy public love and affection in some cases. Biblically speaking, they've already been rewarded.

[@maxheadrom3088]

The Charities, a lot of them, are great and do effective work without spending money on their own structure. Donate to the charity you know, the one you can visit. The hard data thing is interesting - I already have the feeling, I need the hard data to choose who to donate if I'm donating to an organization acting far from my home.

[@BoomBraids]

"Real altruism.... stop doing business the way they do business..."

[@sanjayatimilsina5799]

Charity in today's world is widely misused. They are one of the most ineffective use of money. The organizations operating cost in most of them is 80% and only 20% goes to the actual work

[@ronj4727]

When I donate, I give directly, for that very reason.

[@adanlopez1011]

Probably even less than that. Around 5% of funds actually goes towards aiding people. If non profits actually used 20% it would make a huge difference.

[@riribibi477]

I always said to my teachers if there is so much charity and all this billions are given to help and resolve problems, how it is possible that nothing is changing and that they are more and more people homeless, poor etc.. The billionaires are getting richer, powerful and changing laws systeem in their favor.. 😯😯

[@YoshaGamingDK]

The child mortality rate for every single country on Earth has decreased severely within the last 60 years.

[@arturogarcia9946]

ther geving it back to the oil company mor power is a scam

[@frusia123]

Because a lot of that "charity" isn't to make the world better, but to make the rich feel better about themselves 😐

[@AmazingStoryDewd]

You could say the same for government programs. Except the situation is even worse. They are even more inefficient.

[@nekaylasmith]

@@frusia123 I agree.

[@femiairboy94]

“There’s no such thing as a free lunch” Milton Friedman

[@futavadumnezo]

From an economic perspective that is very accurate. In my opinion, a taxable charity institution is what's needed and the government literally forcing the richest to pay 1% of their total wealth each year to this charity.

[@stanleysharkey3753]

Uhhhh, yes there is. I've had people buy me lunch several times. I have also bought other people lunch.

[@Christine.corneille]

Charity should be recognize as a Human right of reciprocity compassion real solidarity without any political tendancy a human skill for humankind

[@atkatsom8745]

Pay your f"""in taxes. How about that?

[@angelabakloyvovtchaikovsky1609]

Karl marx is the new power of the world

[@atkatsom8745]

@@angelabakloyvovtchaikovsky1609 Not what I meant but I like the spirit!

[@owenturner1384]

ironic profile photo?

[@davinbradley7721]

No because 70% of the taxes for the war on poverty go to the bureaucracy that's responsible for the program and only 30% to the poor

[@natchancat9610]

@@davinbradley7721 - where do you get your number?

[@CarFreeSegnitz]

Pennies from unjustified fortunes to buy support to continue the current social order. Wealth and income inequality is allowed to get worse. 70-80% top marginal tax rate. Not intended to raise government revenues but strongly encourage a flattening of inequality. If you're already a big earner why bother going in for a raise when almost all of it will go to government? Would government spend it wisely? Maybe... maybe not. That's not the point. A high marginal tax rate pushes the private sector to do the right thing. We all hate centrally planned economies. We should hate private sector central planning just as much. Allowing a worsening wealth inequality is to advocate for private sector central planning.

[@janferencz3616]

The phenomenon that billionaires can buy social change through foundations has been inevitable in our system. This just shows the decision making inefficiencies of democracy. By no means it is desirable that individuals have that much influence in society, however radical change, needed now more than ever, can never happen when too many people participate in policy making. Especially not when two parties run a government alternately, undoing everything their predecessors have achieved.

[@edwardliu111]

Do you have the slightest evidence to back up your claims?

[@christophermgwadira4400]

Great production... Easy to follow

[@ResidentEvilReVerseUniverse]

I am so happy you guys helped these homeless people. Deep down i have always firmly believed that no one should be homeless.

[@angelsrosena]

sure, they're doing what you don't.

[@nandy178]

​@angelsrosena your government shouldn't allow that. In Germany wenn you don't have a job, government give you money and help you found a job and an apartment. If you are not German you need to at first hier work and then you have also this privileges.

[@SuperEmilyW]

Really interesting video, confirmed some of my own personal views on celebrity charity. The BP "actor-lists" were a bit dire though.

[@senfumastevens3076]

Hi brother hope you are doing well and I call you upon to get involved in our music school foundation.

[@lucapistolesi5447]

Has someone thought that a straightforward solution might just simply stop to exploit under developed countries? Or maybe have a strong progressive taxation and a cap to personal accumulation of resources to avoid the wealth extraction from the society in the first place? I could go on...

[@ndimec2117]

@Lucas ...would you be willing to pay a higher price for everything you consume? What we dont realise is that while we cry about the poor labor conditions of laborers in China and third world countries. We love the fact that we can get cheap affordable products. The western doesn't pay the real price for resources that they get from the third world also often turning a blind eye to the Dispot leaders who they " jump into bed" with and wreck the very institutions that should serve "the people."

[@lucapistolesi5447]

@@ndimec2117 yes, i will pay more. It is all about relative distribution of wealth. The market and our economies will adjust to a different baseline and we might also consume less. If the prices will be higher compared to what we earn in dev countries, we will be less prone to exploit them and less inclined to consume useless stuff

[@oceanthresher6184]

@@ndimec2117 notice how pretty much all of Europe’s laughing at your claims because they aren’t remotely true.

[@oceanthresher6184]

@@ndimec2117 “but, but, Venezuela!” “Yeah what about it? The fact that their economy has been crushed by US sanctions for decades because they know socialism won’t fail unless they force it to?”

[@michaelhart1072]

@@lucapistolesi5447 it’s not about you paying more. I imagine you have the resources to do so. Its more that it will cost those at the lowest points in society who would feel that additional cost strongest

[@user-od8eq8bd1g]

A problem made by a small group hoarding too many resources won't be fixed by that group giving away part of their money for causes they like. The problem is their existens and that is fixed with taxing and regulation.

[@samijarvinen1585]

Less anecdotes and case studies - more analysis please! Great video, though! But shouldn't the title be "Charity - is giving justified from the point of view of democratic ideals"? *Efficiency* of charity versus government policies wasn't addressed at macro level. I would have expected more from *The Economist*!

[@ebonypenguin2899]

For me it's Animals Asia, World Animal Protection, RSPCA, and various local charities. For my husband it's World Vision. I like the logic approach, and yet, in reality, I end up supporting bears and elephants because I don't think enough people do, and because it's so horrid what's happening to them (e.g bear biling).

[@opensourceguy730]

Why not help show people how wealth is created? Personal discipline, resilience, persistence, and kindness.

[@philosoftfurkitusjunkyard2462]

I take it you are not wealthy?

[@opensourceguy730]

@@philosoftfurkitusjunkyard2462 That depends on how you define wealthy. I live in a great neighborhood, my kids go to an excellent school, and my Vanguard Index Fund seems to indicate I can retire by the normal retirement age.

[@philosoftfurkitusjunkyard2462]

@@opensourceguy730 oh, I thought we're discussing Bloomberg level of wealth. is that where you're at? I'm poor.

[@opensourceguy730]

Kitu's Junkyard No, I was referring to helping the poor by simply writing a check. Bloomberg turned a $10 million severance package into a $22 billion fortune and he should share some stories on how to do well in life. E.g., stay in school, work hard, avoid drug and alcohol abuse, stay humble, take calculated risks, etc. No doubt the people in this video mean well, but what they’re missing is helping people to help themselves. It’s a values judgement. Unfortunately, being non-judgemental is today’s deleterious zeitgeist. Feed a man for a day or teach him to fish so he can feed himself for a lifetime.

[@philosoftfurkitusjunkyard2462]

@@opensourceguy730 you're a poltergeist? yeah, sounds too naive for me. i see men lots of them, senseless, with kids, lots of them, fighting over fishes in an overfished pond.

[@user-el8ig8wf4i]

Thank you so much for this video!!

[@nathanbrowne457]

You guys give me motivation and inspire me thanks so much

[@AidenRobert-nc1fp]

Hello . I just turned 67 and i am sharing some benefits. Let me know if you are interested . I'm just helping the few I can

[@JJDK485]

The CEO and Admin staff benefit the most. The real cause only gets 10-20% of all donations or so, I guess.

[@michaelcharlotte4334]

Topestrade +1. 4. 8. 4. 2. 0. 0. 5. 3. 9. 4

[@charlestheodore5852]

What's the song right at the end?

[@nathanbrowne457]

That's brilliant charitable country's live longer and helps our world survive I worked at red Cross we raised 1.5 million on lock down and I now work at vinies charity store we love our world that gives and does charity thank you everyone that gives and volenteers

[@robertrobert175]

From all given, for all the years given, if charity worked it would not be needed today.

[@AidenRobert-nc1fp]

Hello . I just turned 67 and i am sharing some benefits. Let me know if you are interested . I'm just helping the few I can

[@PhilipTheDuke]

What is that tune that drops @6:51?

[@IndigoBellyDance]

Love they brought in Anand Giridharadas That man speaks truth

[@zonda6012]

$100 to house a family for one night that they otherwise would be homeless...Ah here I am a PhD student earning ~$60 a night, worse than homeless.

[@maxheadrom3088]

This is the second time PR has got a new name ... the first time it changed into "marketing" (a word created the Edward Bernays himself). Like Milton Friedman said in 1970, their goal should be only profit ... let's tax them and have the State take care of us.

[@nathanbrowne457]

People vote for people that do charity and give it creates better worlds well done for making a difference

[@nkoroieric]

I think there is nothing wrong with knowing that your kids may never lack for the basics but am opposed to the idea that they totally disregard the existent of lack. In that same breath I think I don't need a billion to see that my neighbor is need of help. Be kind cause it take time not money.

[@Nomorehats]

I have benefitted from the Robin Hood Foundation through The Ali Forney Center in NYC . In my experience, a lot of non profit CBOs have terribly low program expense ratios. As for the donors, it doesnt help to spend 10% of your time and money dismantling a system of you're gonna spend the other 90% propping it up.

[@Nomorehats]

They paid for my room & board + amenities for about a year, and I actually got on my feet. I also got to see a number of plays on Broadway including Hamilton with everyone but Lin Manuel Miranda. It's a mixed bag.

[@RandomPerson-go5sn]

People tend to believe that homeless people are homeless because they simply had no other options, but that’s not true. Most homeless people are either mentally disabled or drug addicts and simply can’t be taken in to society by just giving them an apartment or a job. Very few homeless people are homeless “just because” they can’t find work.

[@johhnycash1515]

What kind of evil do you have to be to actively spend money on destroying people's lives just so you can get richer, even tho you can already own whatever you want to own? This is sickening

[@hanskraut2018]

effective altruism sounds awesome 😍🤩 still the fact is that there are some philosophical issues left

[@Timothythebrewer]

Very informative! However, the end topic of bed nets strikes me as a "topical" solution to a more systemic issue, e.g. proper sanitation - hydro infrastructure, etc. What are the "effective" altruism efforts there?

[@Xob_Driesestig]

How would hydro infrastructure prevent malaria?

[@Jamal-Ahmed786]

“Charity is a cold, grey, loveless thing. If a rich man wants to help the poor, he should pay his taxes gladly, not dole out money at whim.” Clement Attlee (1920)

[@angelabakloyvovtchaikovsky1609]

It shows who really cared at the quality of life. Who really did their work

[@BlondeQtie]

although some tax money is really wasted xD they have build a bridge for a highway, but it’s no connected to a street. there is just a bridge in the fields, you cannot use it 🤦🏼‍♀️

[@kahhoeng88]

a golden age of giving, a golden age of generosity, and a golden age of hypocrisy as well?

[@albbyxs]

What and how the charity/foundation management is doing with the donations, is there an audit committee happening also in their vicinity?

[@giedriuskristaponis1398]

Giving a charity is taking a step back, not changing direction.

[@heyzus]

Less than 10% of what you give goes to help anyone, huge salaries, ''volunteers'' expenses, theft, and general sloppiness eats the other 90%!

[@markcampbell7577]

The philanthropy should be structural improvement. Wages are always enough to reliably pay the rent for one bedroom apartment local commute to be legal. Public schools are adequately funded equally and all supplies at school with no homework allowed.

[@danielmok1855]

how is the funding network any different from just a broken up version of just donating to one company?....I get it but still if you take it to the larger scale BP could just go to one of these events and just just give to essentially everyone

[@CuracaoRevisited]

charity is beating someone up, and then giving them a plaster just to avoid they bleed to death

[@nathanbrowne457]

When you help homeless it makes a difference and less likely to carry on out breaks

[@mikelarrivee5115]

Came cause this channel was called the economist. Turns out i accidentally judged the book by its cover

[@khalidalali186]

Lol, all democracies have become plutocracies. Well done peasants! Now go run along, and vote in the next elections. Your votes are of the utmost vital importance.

[@CallOfDutySniperzzz]

14:45 song anyone please?

[@elizaiv]

What's the name of the organisation doing the impact assessments?

[@nathanbrowne457]

Well done bro that's bueatiful helping poverty is the best and homeless other wise it becomes our problem

[@chiragchachad5451]

Love the PR, go bloomberg

[@jk-ts2el]

Anyone know the name of the guy at 0:05?

[@BlondeQtie]

True philanthropists would not exploit their employees, not harm the environment, not put people on the streets, not demand 2000% profit margin, not avoid taxes. And if you have something to give after all that, you can donate anonymously in silence and don’t use a tax break.

[@bidbadgray]

Nets are great but in all fairness some machinery to balance the workforce or lack of might be also effective

[@joywalsh6012]

Very informative video! I think all money to help is welcome especially from Entrepreneurs and the wealthy. I do think a deeper look at society as a whole is needed.

[@doom2avatar]

From my experience in cancer biology, the science wouldn’t be happening without generous local donations. Yes the established scientists have government and state funding for their work but that “funding” is becoming more and more an honorary badge. Govt barely pays the bills.but does allow the private donors to know that their money is going to something serious and worthwhile.

[@LLMood]

Government funding is drying up due to tax cuts for the Rich

[@paratrooper6]

Maybe government funding wouldn't be drying up if those people paid taxes.

[@alexeialeksandr7606]

Would they still donate if they didn't get a tax write-off?

[@JITENDRASINGH-ym5gu]

Nice documentary 👍

[@jullinnarcooper878]

Thank you the true authentic respectful England. Edward does truly speak...

[@revolutionarydefeatism]

I wonder how much charity managers receive!

[@ronj4727]

The average is 80 to 90 % gets lost in the mix. They keep the lions share and write it off as "administrative costs". Just another legal sham to get paid.

[@chiragchachad5451]

Did Bloomberg sponsor this video?

[@kaushikvsmaniyan]

7:00 - 7:03 Anand Giridharadas may have had the last word, 7:14 - 7:49 expands on that, 7:51 - 8:04 important numbers, 8:04 - 8:10 the real purpose? 8:17 - 8:58 perhaps the purpose is to incentivise people to create the base for wealth in society & disincentive rent seeking in a way mimicking nature. 18:44 - 20:20 this has the same issue as with joint stock companies namely that those contributing have no direct say in management and there is little or nothing they can do to prevent mismanagement and little even after the mismanagement has happened, 22:43 - 22:51 the solution to this? 24:41 - 24:53 & 25:04 - 25:25 proof of the pudding?

[@ruslanpavlovich.4886]

14:41 he doesn’t even have money to buy same pair of socks 🧦))

[@finnhambly]

Would recommend Slate Star Codex's blog 'Against Against Billionaire Philanthropy'

[@senfumastevens3076]

Hi brother Finn hope you are doing well and I call you upon to get involved in our music school foundation.

[@AllenGraetz]

We are lead to believe that the same government that can't conduct an orderly airlift would be better spending this money than NGOs?

[@Piecenotwar]

I doubt very much that large donations are done out humbleness. I wonder if any of these foundations or charities are registered in the Cayman Islands and actually owned by the people who donate, use the giving of charity to dodge/get tax relief in the country main business is registered and legally move it into a tax haven like the Cayman Islands.

[@airgunningyup]

donations should not be ta deductible , problem solved..

[@progyandas9650]

Giriharadas the Rockstar without a stage !!

[@NoName-oj5pl]

I think that part about tax breaks is absolute BS. Go ahead and donate your money and see how much of a tax break you get and if it was a net positive or net negative and you will see the truth.

[@jirikrajnak9047]

Excellent segment

[@rjgc4409]

You cannot effectively defeat a corrupt philanthropist from giving to the needy--of course not. Wrong angle. You can only do so by prosecuting him for the environmental laws, the consumer protection laws, the tax laws, the anti-labor laws, the anti-graft laws he has violated and all the other crimes he or she has committed.

[@peterweber4094]

We need systemic change not more altruism, just a fair society, where people aren't viewed and treated like commodities. Capitalism needs to be suspended. It rewards the greedy, and those who are willing to exploit the weak and vulnerable.

[@robertskolimowski7049]

8:16 Wow, just buckle up for the next 45seconds👏✌

[@morganhillier8133]

Pretty long Bloomberg add.

[@mistervacation23]

If you donate now, we will send you this adorable blanket!

[@fasterwheels3977]

My Bro in law lost his wife last year after long 4years of battle with cancer which he had lost his job and he has two small kids... If anyone who can help them that would be really great....

[@heinedenmark]

Why is it billionaires that decide who and what deserves help? It's just big capital manipulating average Joe.. Wake up

[@philosoftfurkitusjunkyard2462]

what do they have to do when they're awake?

[@heinedenmark]

@@philosoftfurkitusjunkyard2462 Vote for Warren

[@philosoftfurkitusjunkyard2462]

@@heinedenmark that's what being woke means? wake me up when there's a better offer.

[@johnterry5954]

They don't. You have no right to thier money.

[@johnterry5954]

They don't. You have no right to thier money.

[@harshath96]

Who's the guy at 0:44?

[@kavinanil7406]

Where does the silica sand for the manufacturing of semiconductors, camera lenses are coming from...? Where does the products of beauty come from..? Where does the textiles, cotton are coming from..? Where does rubber, cooking oil come from (cleared tropical rain forests).....?

[@brendatenorio5721]

Malaria is a focus of Gates Foundation so why are the smaller foundations having to weigh in with additional programs?