ABSTRACT
This chapter explores the interplay of these two dynamics in the governance of global development: new approaches to philanthropy, typified by the (re)emergence of large-scale foundations such as the Bill & Melinda Gates Foundation (BMGF) and new styles of giving, and the rise of private development aid, which is said to be restructuring global development finance. It examines the first dynamic, the new philanthropy. The chapter explores the changing character of the philanthropy project and, how this contest has extended its conceptual reach into debates concerning the fundamental nature of contemporary capitalism by outlining the debate surrounding "philanthrocapitalism". It also examines the second dynamic-the rise of private development aid-is introduced. Finally, the chapter argues that in fact foundation flows remain relatively small when taken in isolation and that there is a tendency to overstate the importance of foundations in the international aid architecture when material influence is confined to a select few actors.
