The Big Bad Wolf Is Here
COVID-19’s Wake-Up Call to Philanthropists
COVID-19 has exposed systemic weaknesses in our government and economy: our overreliance on fragile global supply chains; the deep inadequacies of the US social safety net; and the appalling failure of the federal government to fulfill its most fundamental responsibility — to ensure our safety and security. While we should have been preparing for the possibility of a deadly global pandemic — and for climate change, and the innumerable other threats the future holds — we have instead focused on slashing taxes on the wealthy, rolling back regulations on corporations, and systematically weakening the capacity of government to manage complex societal risks and problems. These efforts may have boosted the stock market in the short-term, but any notion that we have created real prosperity and security for Americans is mistaken. We are like the little pig who builds his house out of sticks: it’s a big party until the big bad wolf shows up.
The pandemic hasn’t only exposed systemic vulnerabilities in our governmental and market institutions: it has also revealed failures and shortcomings in prevailing philanthropic models and approaches. In a world of radical and existential threats, philanthropy must radically change its approach if it is to play a constructive role in creating a good society and a stable and…
