Blogs & Comment

Philanthrocapitalism

I just heard a new term – philanthrocapitalism – captures how people like Bill Gates are giving away their wealth.
At the recent Forum Tremblant conference on corporate responsiblity, Peter Swinburn, President and CEO of Molson Coors said that the new philanthropy is coming from entrepreneurs and investors who are applying money-making techniques from the private sector to reach social objectives. Enter philanthrocapitalism. I hope that peoples’ ability to make a difference keeps up with the loss in their portfolios.
In the territory of simple capitalism, I was walking through the Bay this morning and saw a bizarre array of pink products in support of the Canadian Breast Cancer Foundation. These included: Cashmere Giant toilet paper, Scotties Tribute Pak tissues, many Kitchen Aid products, “Sprinkles for a Cause” (pink cake decorating sprinkles), and a pink Health-O-Meter scale. Pretty hard to feel much cause in this cause related marketing.