Ethics of Wealth: "Democracy and Philanthropy" (panel discussion)

Abstract:  Is institutional philanthropy good or bad for American democracy? No doubt that Is institutional philanthropy good or bad for American democracy? No doubt that philanthropic foundations fund many good projects. But foundations are also institutional oddities in democratic societies: they lack accountability, operate without significant transparency requirements, elevate the preferences of wealthy individuals across generations, and benefit from generous tax breaks. Drawing from his recent Boston Review article, Rob Reich, Faculty Co-Director of the Center on Philanthropy and Civil Society (Stanford PACS) and Faculty Director of the Program on Ethics in Society, will explore the role of foundations in democratic societies. He argues that foundations can gain legitimacy in spite of the unchecked power they wield, through their work supporting diversity and long-run social policy innovation. Larry Kramer (President, William and Flora Hewlett Foundation), Susan Liautaud (Visiting Scholar, Stanford PACS), and Chiara Cordelli (Post Doctoral Scholar, Stanford PACS) will respond. Chiara Cordelli Larry Kramer Susan Liautaud Rob Reich