distance

Now, in a moment of political backlash and financial scrutiny, those same institutions are asking everyday Americans to stand with them against proposals for increased oversight and higher excise taxes on their endowments. It’s a tough ask. Because the truth is most people haven’t seen that tax-incentivized wealth show up in meaningful ways—not in their neighborhoods, not in their schools, not in their civic life. When Big Philanthropy backed the wrong theory of change and cut itself off from the concerns of working-class Americans, it made a trade-off. And now the cost of that trade is coming due.

The sociologist talks to Michael E. Hartmann about symbolic capitalists in general and in philanthropy and the nonprofit sector in particular, how they exacerbate a lot of problems, and why the growth in their numbers has been making things even worse.

The anti-elite tone of Marco Rubio’s new book is evidence that he understands what gave rise to Donald Trump in 2016 and what that ascendant populism portends for future political and policy debates, including the politics surrounding—and potentially, the policy structuring—establishment philanthropy.