19 Hrs
Source:
الاقتصادية
How do billionaires make a difference
The article focuses on James Chen's experience in improving access to eye correction in Rwanda, where the World Bank's rejection of his idea transformed into a successful venture that demonstrated providing comprehensive and affordable eye care can have significant economic and social impacts. By training thousands of nurses and conducting examinations in every village, Rwanda succeeded in becoming the first country to offer this service nationwide, resulting in a 21.7% increase in worker productivity. This experience serves as a model for bold, large-scale philanthropy, where long-term capital is utilized to test innovative solutions and achieve real impacts over time, emphasizing that substantial and long-term investments are essential to bring about transformative change. The article also highlights the importance of leveraging new wealth generated from global wealth transfer to create genuine social impact and encourages increased innovation in philanthropy to achieve sustainable development.
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