As the world’s political and economic elite gather to discuss their top concerns at the annual Davos summit in the Swiss Alps and with attention this week focused on the scourge of economic inequality, a new report begs questions about the potentially disastrous role the super-wealthy are playing when it comes to addressing key problems of global inequity, endemic poverty, and international development.
Released on Wednesday, the study by the UK-based social justice group Global Justice Now takes a specific look at the impact of the world’s largest philanthropic charity, the Bill & Melinda Gates Foundation (BMGF), to assess how large-scale private giving may be “skewing” how international aid works. In its conclusion, the report argues that what may look like altruism on a grand scale may actually mask a sinister reality about how the billionaires of the world insulate their personal fortunes while using their out-sized influence to project their private ideologies and further financial interests. The result, the report suggests, is that many of the people and communities who such charities purport to be helping, may actually be worse off in the long run.
With more than $43 billion in assets, the Gates Foundation is often lauded as a global force for social good that uses its vast financial resources to launch initiatives and support existing projects in order to, according to its mission, “help all people lead healthy, productive lives.”
The new report, however—entitled Gated Development: Is the Gates Foundation Always a Force for Good?—argues that regardless of good intentions or motivations, the foundation’s “concentration of power is undemocratically and unaccountably skewing the direction of international development” which in turn is “exacerbating global inequality and entrenching corporate power internationally.”
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