I really enjoy how candid he is about this “philanthropy effect” – a similar trend is entrenched in the education reform movement, where we have charter school proponents raising the Panacea flag but they are a mere symptom of a greater issue.
Warren Buffet’s son Peter writes:
“All are searching for answers with their right hand to problems that others in the room have created with their left. There are plenty of statistics that tell us that inequality is continually rising. At the same time, according to the Urban Institute, the nonprofit sector has been steadily growing. Between 2001 and 2011, the number of nonprofits increased 25 percent. Their growth rate now exceeds that of both the business and government sectors. It’s a massive business, with approximately $316 billion given away in 2012 in the United States alone and more than 9.4 million employed.”