Former LA Mayor Richard Riordan has a review of a new book, Philanthrocapitalism: How the Rich Can Save the World, in today’s WSJ. The book is by Matthew Bishop and Michael Green and according to the review,
To judge by the interviews and evidence in “Philanthrocapitalism,” billionaire philanthropists start out believing that they can solve almost any problem. But they soon learn that nonbusiness problems are not so easily solved. The billions of dollars that Bill Gates, Eli Broad and others have spent on public education, for instance, have resulted, so far, in relatively little systemic change. Much the same can be said for the money that philanthropists have given to improving public health in Third World countries. This is not to say that there have been no successes; they have simply fallen short of hopes and expectations. Among the most implacable enemies of change, it seems, are unions and dishonest governments.
Interestingly, the review does not mention the word social entrepreneurship. For an excerpt from the book click here.