Philanthropy: Good For the World, Bad For Democracy?
*By Conor White*
Americans [gave more than $410 billion](https://givingusa.org/giving-usa-2018-americans-gave-410-02-billion-to-charity-in-2017-crossing-the-400-billion-mark-for-the-first-time/) to charity last year. Many may see that as a positive trait, but author Anand Giridharadas thinks such altruism can often do more harm than good.
"I started this book trying to understand how is it that we live in this age of tremendous generosity and a system that reliably shuts most people out of the 'American Dream'," Giridharadas said Thursday in an interview on Cheddar.
In his new book, "Winners Take All: The Elite Charade of Changing the World," Giridharadas points to the Koch brothers, [the Sackler](https://www.theguardian.com/us-news/2018/feb/13/meet-the-sacklers-the-family-feuding-over-blame-for-the-opioid-crisis) family, and Goldman Sachs, among other examples, as entities that are praised for their giving but may actually cause real damage to Americans.
"The reality is, this 'changing the world' thing gives you a moral glow and allows you to get away with power grabbing that we would never allow some chemical company to get away with," said Giridharadas, formerly a reporter for the New York Times.
He said the same theory applies to some very prominent American visionaries.
"Mark Zuckerberg's not going to change the world, Elon Musk is not going to change the world," Giridharadas said. "These people say they're changing the world to grab wealth and power."
While tech mogul Zuckerberg has [promised](https://www.nytimes.com/2015/12/02/technology/mark-zuckerberg-facebook-charity.html) to give away most of his wealth, Giridharadas noted that he's also the same person responsible for building a monopoly, putting newspapers out of business, and potentially allowing foreign actors to interfere in U.S. elections.
"We need to change where we go to change the world," Giridharadas said.
In Giridharadas's view, America can solve some of its many problems by strengthening federal programs and reforming systems that already exist.
"We don't create one little charter school, we actually make sure we fund all public schools in America adequately and equally," he explained. "We don't allow some people to get health care and others not, we actually give people health care based on their being a human being."
"We need not an age of little initiatives and projects and giving back, we need an age of reform."
"Winners Take All: The Elite Charade of Changing the World" was [released](http://www.anand.ly/) on Tuesday.
For full interview [click here](https://cheddar.com/videos/why-philanthropy-is-bad-for-democracy).
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.