The word ‘philanthrocapitalism’ was coined only last February, by Matthew Bishop in ‘The Business of Giving’, an Economist special supplement on philanthropy. In this issue of Alliance, Bishop sums it up as ‘a new way of doing philanthropy, which mirrors the way that business is done in the for-profit capitalist world’.
One year on, our Alliance special feature ‘Philanthrocapitalism: Myth or reality?’ aims to shed further light on ‘new philanthropists’ the world over. Are they philanthrocapitalists? Do they see themselves as such? While some of our contributors embrace the idea of philanthrocapitalism warmly, others don’t much like it or are wary of its connotations. What is quite clear is that, for better or worse, it is now part of the vocabulary of philanthropy.