The Era of Philanthrocapitalism

credit: Fotopedia

Due to the financial crisis of 2008, Wall Street and the financial sector are viewed as the bad guys by large parts of the country, especially those occupying the lower classes of life. To go into finance is seen as selling out. Yet the financial sector plays an important role in allocating funds to their most efficient uses as well.

Enter the idea of the philanthrocapitalist. By coupling the raw horsepower of capitalist strategies with social benefaction, innovators can enrich both themselves and society, instead of at society's expense. The Nature Conservancy is a prime example of this paradigm, using flood insurance programs to finance conservation efforts. The lesson here is clear: Solving the world's most difficult problems may depend on the collaboration of the best and the brightest of both the public and the private sectors.

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