Corporate philanthropy is not a new concept in business, and the very first corporations were charitable. Ancient Rome required businesses to pay taxes to fund military campaigns, and business owners were expected to do so in order to benefit the Roman people. As the Industrial Revolution continued, the rich and influential became more charitable and started setting up charitable organizations. Barnardos, a charity started by Thomas John Barnardo, was one of the first such enterprises, and it remains a household name today.
How to Know – The Political Legacy of High-Profile Businesses and Charities
Founded in Canada, Reza Satchu is an East African-born entrepreneur and philanthropist. He is currently the managing partner of Alignvest Management Corporation and the founding chairman of NEXT Canada. He is also a senior lecturer at Harvard Business School. Several prominent journalists, including The Globe and Mail, have quoted him on the subject of philanthropy. As a CEO of a large company, he is in a unique position to address the issues facing the world and help people in need.
In addition to its societal and economic benefits, corporate philanthropy also has a political legacy. While liberal democracy relies on the free market, recent studies have shown that it is often accompanied by authoritarianism and corruption. This is due to the fact that market actors need a strong government to implement unpopular changes in their markets. The result is a powerful autocrat who is transformed into a positive figure.