June 2013

High risk/high gain? Opportunity, risk and global development

Volume 18 , Number 2

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June 2013

High risk/high gain? Opportunity, risk and global development

Volume 18 , Number 2

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Did the world change on 15 September 2008 when Lehman Brothers filed for bankruptcy? In Europe and North America, it certainly did. For the rest of the world, it can be taken as a symbolic date for a longer-term shifting of economic power. This Alliance special feature looks at how philanthropy is responding to the new order. The guest editor is Anthony Tomei, former director of the Nuffield Foundation.

Contributions to the special feature include Matthew Bishop’s predictions for philanthropy around the world; Richard Jenkins’ suggestion of a third option for foundation endowments between perpetuity and spend down; and an article considering how foundations can address inequality. There are perspectives from two Italian foundations, Oltre Venture and Fondazione Cariplo; Foundation Center president Bradford Smith talking about US foundations; Alison Bukhari’s account of how philanthropy is changing in India, now the world’s third largest economy; and interviews with Stephen Dawson of Jacana Partners and African businessman and philanthropist Tony Elumelu on mainstream investing, impact investing and philanthropy in Africa.

The June issue of Alliance also includes an interview with Council on Foundations president Vikki Spruill, with a comment from the EFC’s Gerry Salole; Kurt Peleman and Pieter Oostlander on venture philanthropy in Europe; Nick Deychakiwsky on the tensions between the humanistic and the technocratic; plus John Fullerton suggesting ‘A Gospel of Wealth for the 21st Century’.

Guest Editors' Article

Changing roles in a changing world

1 June 2013
Anthony Tomei

The collapse of Lehman Brothers in 2008 seems to mark a symbolic moment at which the world changed. The changes were felt very differently in different parts of the world, but it seems likely that the resulting shift in the balance of economic power will turn out to be permanent. What about philanthropy? Five years on, how do things look? How have foundations responded?  Have they changed the way they see their role and the …

 
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Editorial

Clear directions, but more questions than answers

The special feature in this issue of Alliance looks at ‘philanthropy in a changing world economy’. We wanted to explore how philanthropy has responded to economic changes since the collapse of Lehman Brothers in 2008. I use the word ‘explore’ intentionally: this special feature is a first stab at seeing what has been happening across the globe. We have tried to build up a picture based on the experiences and impressions of people in different countries. One of the things to emerge most clearly is that as the balance of economic power moves inexorably east and south, new wealth is …

Letters

It’s the wrong answer

James Brooke Turner

Buzz Schmidt and Clara Miller’s article about the F B Heron Foundation’s approach to mission investing requires support, both for …

Why foundations should be responsible investors

Jackie Turpin

I very much welcomed Catherine Howarth’s article on ‘why foundations should be shareholder activists’ (Alliance, March 2013). The Joseph Rowntree …