Loads of Money, Badly Spent

by George Leef

In today’s Pope Center piece, Jay Schalin scrutinizes the educational philanthropy of the Bill and Melinda Gates Foundation. Sadly, most of the money that the foundation has strewn around so liberally supports the status quo and makes it harder for market-centered changes to get traction.

This reminds me of another prodigious educational waste of accumulated wealth — the Annenberg Foundation’s gift of money (half a billion as I recall, back in the 90s) to improve public education. The money was soon gone and no improvement was detectable.