Venture philanthropy reframes justice as enlightened self-interest for markets.

Evidence

For them, the free market is a natural and historically unique force for creativity, and any motives beyond the constant quest for profit are antithetical to this force, imposing the subjective will and preferences of soft-hearted corporate executives over the inherently superior and objective (if ruthless) intelligence of the market. Gates and his allies responded that these motives were not antithetical, and that venture philanthropy could also be profitable, when imagined as enlightened self-interest. Curing key third-world diseases or social problems, improving education and alleviating poverty, on the whole, open up new markets, build trust in corporations and eliminated systemic risks in the global economy. “Creativity” is required to see beyond competition and short-term profiteering and recognize the need for the enlightened non-government intervention in markets. — Max Haiven, Cultures of Financialization, 423

Categorization

• XREF: The ‘enlightened self-interest’ defense-of-philanthropy trope resonates with the civilization-and-savagery framing of Gates-as-benevolent-intervener; also parallels the ‘creative capitalism’ debate Haiven is dissecting. — connects to: Charitable donations and grants are being reframed as investments requiring measurable social returns — Ève Chiapello, Financialisation of Valuation, 69; Venture capital logic migrated into philanthropy through venture philanthropy and social entrepreneurship — Ève Chiapello, Financialisation of Valuation, 73; Philanthropy has been remade in the corporation’s image through venture philanthropy. — Max Haiven, Cultures of Financialization, 419 (+3 more)