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Linsey McGoey: The Gates Foundations and The New Gospel of Wealth

17 Nov

Diane Ravitch's blog

This is a must-read article by Linsey McGoey in Jacobin magazine about the big foundations–especially Gates–and how they use their alms for for-profit companies and start-ups.

McGoey of the University of Essex has written a book on the influence wielded by Gates and other big philanthropies. It’s title: “No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy”  (Verso).

“In 2010, the Gates Foundation offered $1.5 million to ABC News and a little over $1.1 million to NBC in 2011 “to support the national education summit.” The following year, the Gates Foundation gave another million to NBC, this time for the more vague purpose of “inform[ing] and engag[ing] communities.” Other for-profit media companies receiving Gates Foundation money in 2012 included Univision — a Spanish language broadcaster whose parent company, Univision Communications pulled in revenues of $2.6 billion in 2014.

“Traditionally, philanthropic grants to for-profits were…

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Posted by on November 17, 2015 in Uncategorized

 

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