Aiming as they do to uphold the class divide that brought about philanthropy in the first place, the philanthrocapitalists’ true enemy is not inequality but populism. Their version of politics, a kind of anti-politics, is endlessly self-obfuscating, but the vast majority of them essentially describe the kind of market-friendly, “socially progressive” politics of the Clinton Third Way. Rather than trickle-down economics as such, they propound the idea that well-informed and benevolent billionaires will consciously pour their money into the right places. Their justifications are cloaked in the language of collaboration and listening, but their guiding principles are nakedly technocratic.
Far better than the ultrarich being philanthropists is a world where a more even wealth distribution means no one is ultrarich in the first place . . .