Mark Cuban must have my conversations bugged. I recently was talking to a friend about how the rich should realign how they do large charity spending.
In previous decades a rich industrialist may have built a library or a university building. This made sense when education was for the rich, and knowledge was inaccessible the wider public. But now knowledge is cheap, and large gifts like this are disconnected from today's average public person. Also putting a name on a hospital that still puts people into debt isn't a good image either.
Now the wider public needs cheaper pharmaceuticals. In order of the rich to stay in power for extended periods, they need to give some amount of handouts. Nuevo rich don't understand this, so they look to predecessors, and look on how they spent their money (hospitals, universities, etc), without realizing why they spent it. Expect to see more charity capitalism aligned with today's needs: generic drugs, taxi services, even phones and internet access.
In previous decades a rich industrialist may have built a library or a university building. This made sense when education was for the rich, and knowledge was inaccessible the wider public. But now knowledge is cheap, and large gifts like this are disconnected from today's average public person. Also putting a name on a hospital that still puts people into debt isn't a good image either.
Now the wider public needs cheaper pharmaceuticals. In order of the rich to stay in power for extended periods, they need to give some amount of handouts. Nuevo rich don't understand this, so they look to predecessors, and look on how they spent their money (hospitals, universities, etc), without realizing why they spent it. Expect to see more charity capitalism aligned with today's needs: generic drugs, taxi services, even phones and internet access.