International Economics: IB Economics

Little to disagree with here - and it makes me wonder once again, why we lionise the entrepreneurs who made it happen to such a degree, and why we have such a positive view of philanthropy when it is financed by tax avoidance. 

Quite an interesting article about something that's much more an American phenomenon than a UK one: philanthropy.

Chuck Collins highlights the fact that US billionaires have made extraordinary gains over the past decade, and despite their pledges to give half of it to charity, he argues that instead of going to frontline charitable organisations, it goes to family-run foundations, which benefit from substantial tax breaks, and as a result, it may well be the case that it's helping exacerbated wealth inequality. 

There's not much economics here - but it is interesting in the sense that it gets you thinking about taxation, tax avoidance and inequality. To what extent should we expect the super-rich to extend their philanthropy to help the battle against coronavirus.

This is a fabulous look at a number of the super-rich, some of whom have adopted a position that is increasingly focused more on using their wealth to reduce inequality. 

It looks at both the super-rich, in Abigail Disney, and others who aren't fabulously wealthy but still exceptionally rich, and highlights how for some of them, having riches has made them more aware of their privilege, and wanting to address inequality. 

And it raises the question as to whether we should tax the rich more, or rely upon their philanthropy. For what it's worth, the former is preferable to the latter. 

A lovely example of philanthropy helping to ameliorate the effects of poverty in Vietnam, with wealthy businessman, Hoang Tuan Anh, having started the movement.

His machine dispenses 1.5kg of rice at a time, and has proved so popular that it's been rolled out across a country where five million people have lost their jobs.