Problems Created by Billionaires

What are a few social problems identified in the article? Why is the Bill and Melinda Gates Foundation not as altruistic as they profess according to the author?  Why is the author critical of Billionaires Like Gates and do you agree with his perspective why or why not? What would conflict theorists say about the issue with  AstraZeneca? What does this article say about the organization of American Society?Why Billionaires Like Bill Gates Can’t Fix the Problems They Helped CreateCredit…Illustration by Nicholas Konrad/The New York Times; photograph by Nipitpon Singad / EyeEm via Getty Images⦁By Linsey McGoeyDr. McGoey is a professor of sociology and director of the Center for Research in Economic Sociology and Innovation at the University of Essex. She is the author of “No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy.”Bill Gates hasn’t changed. His public image has. Mr. Gates’s personal behavior and his troubling comanagement of the Gates Foundation are being reported more openly. The question is why it took so long.For years, the Gates Foundation has been steered by an unusually small board of trustees, made up of Bill, his estranged wife, Melinda, and the billionaire investor Warren Buffett.The foundation was created in 2000, merging two charitable organizations that had been established in 1994, the year Bill and Melinda married. Its size roughly doubled in 2006, to $60 billion from $30 billion, when Mr. Buffett announced he would give most of his Berkshire Hathaway fortune to the organization, saying that he trusted Bill and Melinda’s expertise to use the money for good.A paradox emerged. The larger the foundation became, the less anyone seemed willing to ask tough questions about its secretive management structure or its penchant for giving money to lucrative pharmaceutical and credit card companies such as Mastercard, despite the fact that giving away billions to wealthy corporations set an unusual and troubling precedent in the philanthropic sector.I first reported this pattern of showering money on private corporations while researching my 2015 book, “No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy.” The main argument of the book was that billionaires who make their fortunes through corporate practices that undercut workers and deepen inequality — like corporate tax avoidance, insufficient sick pay and the immoral gap in pay between executives and low-paid workers — are not the solution to problems they generate.I put it this way: Asking Bill Gates to fix inequality is like asking an arsonist to hose down your house after he just setit on fire. Philanthropists might have the deep pockets to fund the fire engine and water hose, but the money is coming from making our houses unlivable in the first place.It wasn’t until five years later that the mainstream media took much interest in criticizing the Gates Foundation, sparked by investigative journalist Tim Schwab’s important reporting on conflicts of interest there.Before then there was mostly silence. If large investment banks were seen as “too big to fail” in the aftermath of the 2008 financial crisis, mega-foundations were too big to scrutinize. Especially in the post-2008 recession, the need for charity was more pronounced then ever, and so it seemed churlish, even Scrooge-like, to question whether the Gateses really knew as much about solving the world’s problems as they claimed.Anand Giridharadas’s 2018 book, “Winners Take All,” coined a new term for the market-led, corporate-friendly approach to philanthropy that donors like the Gateses have championed for years: “marketworld.” He sees it as misplaced faith in the ability of more markets to resolve poverty, when the richer investors in the market get, the poorer the rest of us become.Both of the Gateses live in marketworld, even though it’s sometimes conveniently forgotten that Melinda has prime property there too. In media coverage after the divorce announcement, she has been upheld as the more “humane” brake on Bill’s techno-solutionist approach to global health and development. But I don’t think there’s much evidence of any deep divide between them when it comes to seeing the market as a panacea.The best evidence that we do have is the observable track record of the foundation, both good and bad. Ultimately, any organization’s most senior management is responsible for its operations — and that includes Melinda. So when the foundation pours nonrepayable, tax-privileged grants on the world’s wealthiest pharmaceutical companies, or when it defends a global patent system that makes lifesaving medicines needlessly expensive in both poor and rich nations, the buck doesn’t just stop with Bill, but with Melinda too.In April last year, the University of Oxford was reportedly considering offering a Covid vaccine developed by its scientists on a nonexclusive basis, which would have made it possible for manufacturers across the world to produce it more cheaply and widely. But then, as reported in Kaiser Health News, “Oxford — urged on by the Bill & Melinda Gates Foundation — reversed course. It signed an exclusive vaccine deal with AstraZeneca that gave the pharmaceutical giant sole rights and no guarantee of low prices.”This deal-making left many people aghast. It seemed to conflict with the Gates Foundation’s stated mission to improve global access to medicines, but it’s not surprising to those who’ve long followed the foundation’s proclivity to lend big pharma a helping hand. Recently, Melinda told The Times that vaccine makers like Pfizer and AstraZeneca “should make a small profit, because we want them to stay in business.”Define small. AstraZeneca paid nothing toward Oxford’s basic research on the vaccine, yet the company now has exclusive distribution rights, standing to make billions from the deal brokered by the Gates Foundation.Both of the Gateses seem to be feasting at the same table at big pharma, swallowing a core fallacy perpetuated for years. That’s the insistence that companies need to “charge astronomical prices to pay for research and development,” as Representative Katie Porter put it recently, even though “the amount they spend on manipulating the market to enrich shareholders completely eclipses what’s spent on R&D.”The best thing to come out of a sad event like this divorce is recognition that today’s global problems are ours to tackle, we the people — interdependent, global members of the public — through solidarity and shared science. We can’t relinquish this task to unaccountable philanthropists. The age of deference to them is over, and it’s about time.Linsey McGoey is a professor of sociology and director of the Center for Research in Economic Sociology and Innovation at the University of Essex. She is the author of “No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy.”The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.

Don't use plagiarized sources. Get Your Custom Essay on
Problems Created by Billionaires
From $10/Page
Order Essay
MyCourseWriter
Order NOW For A 10% Discount!
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Homework Writing

Do you need to ace your test? We have qualified writers to assist you in writing 100% quality homework writing. Mycoursewriter offers students unique and personalized custom papers that help them in getting good grades. Our academic experts will assist you with your dissertation papers, thesis writing, research papers, term papers, and case study homework help. Our writers are experienced and have perfected the art of crafting the best essay writing papers regardless of your academic level. Order now and get our superb homework writing services.

Expert Academic Writers

A student needs professional assistance outside class time. Before hiring our writers, they undergo thorough tests and strict educational backgrounds. After passing a test, our writers undergo training to ensure they deliver expert professional papers to our customers. We ensure they meet the timely delivery of papers and follow our customers' provided instructions. Every writer is an ENL writer and is from the USA, Canada, UK, or Australia. Our experts approach papers effectively depending on their area of specialization.

Affordable Price Guarantees

Is the deal too good to be true? Mycoursewriter is the most affordable assignment help website on the market. We consider students' daily needs for academic help. Our paper costs are reasonably priced to approximately 90% of students around the globe. Our main aim is to ensure students achieve academic excellence, and we believe inconsiderable prices should not hinder students from getting quality homework writing help. In case of any dissatisfaction, we offer unlimited revisions and rewrites without extra charges.

Timely delivery of papers

Tight deadline? Is your paper due in the next few hours? Worry no more. Our writers are here for your rescue. Many college students find it hard to balance their social and academic life and get caught up with academic deadlines. Drafting your paper at the last minute does not allow you to conduct extensive research and craft the correct answers. We have expert writers ready to work on your assignment writing. Urgent writing services are the ultimate solutions you need. We guarantee you timely delivery of papers at your convenience and specified time delivery of the customer.

100% Original Tasks

The ultimate deal-breaker in achieving good grades is submitting imitative papers. Plagiarism is a breach of examination standards and has serious consequences. Students need to deliver papers written in their understanding by paraphrasing their research findings and relevant citations. Our expert's primary consideration is providing free plagiarized papers that meet the lecturers' requirements. Our editors will proofread your paper before delivery ad ensure your papers will not be substandard. We guarantee extreme originality, and in case of any customer concerns, we offer a plagiarism report.

All Round the clock Customer Support

Our website is user-friendly and super useful! Mycoursewriter is the most trusted online writing website always available to provide you with assignment writing services that you need. Our primary concern is meeting customer need specifications by our friendly customer support team that Is available all the time. Our website usability is self-learnable but in case of any problem, feel free to contact us directly through our website email: support@mycourserwiter.com. We have diligently satisfied thousands of students, and you can witness this on our sites' review page.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Advantages of Using Our Assignment writing Services

Mycoursewriter welcomes you for superb essay writing services. We are a legit site offering help with your most challenging homework writing assignments at affordable prices. Your essay paper will be assigned to a professional writer who will craft the paper from scratch according to your provided instructions.

Essays

Essay Writing and Proofreading Services

Essay writing is a common assignment writing for most college students. It takes a lot of time to craft a complete perfect essay. Mycourserwiter offers the best essay writing and proofreading services for most college students. Your paper is assigned to an expert writer who does thorough research on fresh ideas and personalizes your essay paper according to your assignment writing guidelines. Our essays are entirely exceptional and undergo a strict procedure that includes papers free from plagiarism and thorough proofreading.

Admissions

Admission and Business Papers

Writing an admission paper is not every student's desire, and this should not hinder any student from earning an admission. Writing a perfect personal statement to earn a position in a dream school or job can be stressful. Personal statements should display a high level of confidence and uniqueness. Admission essays require you to have a vast knowledge of the current happenings in the world and knowhow of the business world. We have qualified writers with skills who will write your admission paper through comprehensive research. All you have to do is provide us with little details about yourself, instructions and our writers will craft a perfect paper for you.

Editing

Editing and Proofreading

Mycoursewriter offers you assignment writing services free from grammatical and formatting mistakes. An error-free paper is significant in scoring the desired maximum grades. We have a team of editors who will go through your paper after our expert writers have delivered their fully crafted papers. Our writers will cover all the aspects of your paper instructions, such as fonts, spacing, and educational formats. Our team of editors will check through your paper to make sure it meets the formatting style provided in the paper instructions. Under no circumstances will a poorly formatted paper will be forwarded to you as our team of editors will ensure careful proofreading.

Coursework

Technical Papers

Assignment writing is part of a learning process, and one may not have the knowledge to answer all questions correctly. This should not be a stress to you as we have qualified essay writing experts to help you. Our qualified writers are holders of PhDs, Degrees, and Masters in different areas of study and can handle any papers regardless of the complexity. Multiple assignments may be challenging to finish on time. Our skilled professional writers are here to assist you in crafting all the correct answers for your assignment. Stop stressing about your homework writing and place an order with us, and our expert writers will provide you with the best assignment help.