Billionaires build new "benevolent aristocracy"

An article from Axios states, “Philanthropists are increasingly looking to steer or supplant government.”

The big picture: Philanthropists don't want to give a man a fish; instead they want to take credit for building a proof-of-concept that will persuade governments around the world to invest in large-scale programs of fishing pedagogy.

Why it matters: Politicians are accountable to the electorate. Charitable foundations and the billionaires who fund them, on the other hand, are accountable to no one. As Reich says, their actions therefore deserve more scrutiny than gratitude.