490 - Thematic Session. The New Philanthropy as Social Investment: Theorizing the Philanthrocapitalist Turn

Session Submission Type: Invited Session

Description

First coined in 2006, the term ‘philanthrocapitalism’ turns ten years old this year – and yet conceptual and practical understandings of the concept remain in their infancy. Where has the term come from; who are its main proponents; and what risks and opportunities does it herald? In this session, a range of scholars analyse the hope, hype and tensions of the philanthrocapitalist turn, exploring a number of novel developments in global philanthropy, including the rise of ‘impact investing’ and the new trend of establishing limited liability companies (LLCs) rather than traditional foundations in order to disburse large fortunes. Panellists will address questions such as: is there a direct relationship between growing philanthropy and growing wealth inequality, and if so, how can we improve the measurement of that relationship? How to study new philanthropic entities such as philanthropic LLCs where grant-making is less open to public scrutiny than at traditional foundations? How to document the ways in which corporate donors enlist new charitable ‘subjects’ and populations as entrepreneurs are positioned in both theory and practice to produce a return on investment? The conceptual themes and empirical developments addressed by panelists are increasingly urgent at a time when a growing number of major philanthropic institutions announce initiatives to address entrenched patterns of poverty and inequality by mobilizing capital created through patterns of wealth production that can contribute to the very problems they aim to solve.

Sub Unit

• Thematic Sessions

Presider

• Darren Thiel, University of Essex

Panelists

• Emily A. Barman, Boston University

• John D. Arena, College of Staten Island

Discussant

• Linsey McGoey, University of Essex