Ford Foundation marches to a new gospel of wealth

FORD FOUNDATION

By Darren Walker

[W]e were established by a market system and endowed by the money of the past century's 1 percent. We are stewards of enormous resources — participants in and beneficiaries of a market system. As a result, our work is quite literally enabled by returns on capital. In turn, I believe we are obligated "to strengthen and improve" the system of which we are part. My conviction is no anathema to capitalism. Philanthropy's role is to contribute to the "flourishing" of the "far greater part" — to help foster a stronger safety net and a level playing field. With each generation, we should be guided by our legacy of support for social progress and human achievement in the spirit of the Green Revolution, advances in public health and human rights, social movement building, creative expression and cultural innovation, and so much more. [link]