AUGUST 27, 2008

Billionaire Policy Makers

Have you noticed lately the emergence of billionaire policy makers?  It really came to my attention when I saw the TV commercial by T. Boone Pickens promoting his personal energy plan.  That made me think of other uber-wealthy individuals who seem to be having more of an impact on public policy than the public officials we elected to do the job.  Certainly, the Bill and Melinda Gates Foundation has helped millions in third world countries affected by malaria, and is pushing the envelope on education reform right here at home.   Warren Buffet’s genius is more influential as a guiding force in financial fortunes than are members of the Senate Banking Committee, and by supplementing the Gates Foundation he too is a major contributor to social change.  Billionaire George Soros is not only a relentless advocate of liberal causes but is a published author on globalization and the state of America.  

It’s not surprising that having reached the pinnacles of success in business, these moneymakers want to have a more indelible mark on society.  And maybe the fact that we are receptive to their influence isn’t new - certainly the Rockefellers have had their impact on policy and philanthropy over the past century.  But what seems unique is the shift to outside forces and campaigns taking the initiative and having a stronger voice than the government we have always relied on.  This goes beyond the billionaires to other non-profit organizations.  I count on the Save Darfur Coalition, made up of 180 faith-based, advocacy and humanitarian organizations, to be more effective at educating the world about that country’s genocide than I do our hamstrung political leaders.  The non-partisan ONE campaign is where I would turn to see a real change in fighting worldwide poverty.   These individuals and groups seem able to cut to the chase and get things done.

Is this a permanent shift away from government institutions as the game-changers in public policy to a reliance on independent, self-funded actors?   Judy Estrin, author of “Closing the Innovation Gap,” said on Good Morning America that “today, the problems that we have are so deep, that we need government, business and non-profits to work together to address them….. One of the things…  that I found the most hopeful was some of the things going on in the non-profits.”  Check out Estrin’s conversation with former Financial Times journalist Tom Foremski on his blog, SiliconValleyWatcher.

Personally, the idea that we can all become self-starters in solving the world problems and don’t have to wait for the grindingly slow pace of the legislative process to lead the way is very encouraging to me.  It may take billionaires with lots of cash to start the movement, but those of us with hours to give can make a difference too.