{"id":277560,"date":"2020-12-03T09:48:31","date_gmt":"2020-12-03T14:48:31","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=277560"},"modified":"2020-12-03T09:48:31","modified_gmt":"2020-12-03T14:48:31","slug":"a-better-way-for-billionaires-who-want-to-make-massive-donations-to-benefit-society","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/12\/03\/a-better-way-for-billionaires-who-want-to-make-massive-donations-to-benefit-society\/","title":{"rendered":"A better way for billionaires who want to make massive donations to benefit society"},"content":{"rendered":"
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FILE: Closing Conversation with Jeff Bezos, Co-Presented with SMU (Photo<\/a>: George W. Bush Presidential Center\/Flickr<\/a>, CC BY-NC-ND 2.0<\/a>)<\/figcaption><\/figure>\n

Jeff Bezos, the world\u2019s wealthiest person<\/a>, announced on Instagram in November 2020 that he was giving 16 organizations a total of about US$800 million for a wide array of climate-protecting work<\/a>.<\/p>\n

This money will help pay to restore and protect ecosystems<\/a> in Colombia, Fiji, Madagascar and Mexico, launch a satellite to detect methane pollution<\/a>, build carbon-trading markets<\/a>, speed up the replacement of the nation\u2019s fossil-fueled commercial trucks with electric vehicles<\/a> and update the U.S. electrical grid<\/a> so it can rely more heavily on renewable energy.<\/p>\n

It was just the first installment of the $10 billion the Amazon founder and CEO pledged in February 2020 that he would give to fight climate change<\/a>.<\/p>\n

For now, that sum would constitute about 5% of his net worth of $203 billion<\/a>. I<\/a> teach a course called Business in Democracy: Advocacy, Lobbying and the Public Interest<\/a>, which examines the ways that businesses and their leaders influence public policy for both good and ill. This kind of a gift is emblematic of the broader issue of money and the ways it clouds our society\u2019s ability to address the fundamental challenges we face.<\/p>\n

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A post shared by Jeff Bezos (@jeffbezos)<\/a><\/p>\n<\/div>\n<\/blockquote>\n<\/div>\n

The bigger issue<\/h2>\n

Rather than gush over Bezos for his generosity in addressing what he and many scientists consider an existential threat<\/a>, I think it\u2019s more appropriate to ask what kind of a political model his actions support and perpetuate \u2013 and how that model allows him to make such a large donation.<\/p>\n

As I argue in my latest book, \u201cManagement as a Calling<\/a>,\u201d corporate clout and money from extremely wealthy people have overwhelmed the nation\u2019s political process and we need a corrective. That is, future business leaders need to learn how to approach political influence as a public service and not individual gamesmanship.<\/p>\n

The largest oil and gas companies alone spend nearly $200 million on lobbying<\/a> yearly to delay, control or block policies aimed at tackling climate change.<\/p>\n

This kind of spending puts sand in the gears of our political process, rendering it so weak and fractious that it can no longer function as a serious arbiter of public interest. Because Bezos is pumping some of his fortune into a system that is broken, his donations \u2013 while admirable \u2013 will not solve this overarching problem.<\/p>\n

It\u2019s of course a good thing that Bezos, like many other billionaires<\/a>, wants to use his surplus wealth to address climate change and other great challenges our society faces.<\/p>\n

But what these major donors should do if they truly believe in those goals, ironically, is use their economic and political power to insulate politics and policymaking from the influence of folks like themselves.<\/p>\n

The role of business in a democracy<\/h2>\n

The business world has been encroaching into U.S. political institutions and public debates for years.<\/p>\n