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September 24, 2008, 01:18 PM ET
Clinton Makes Call for Philanthropy
At the start of the Clinton Global Initiative, Bill Clinton called on philanthropists, corporate chief executives, and others to continue to give despite the financial crisis that looms over the event.
“My belief is the purpose for which we have gathered — to enable more citizens through philanthropy, through nongovernmental work, to work in partnerships with governments to do public good — this purpose is going to be more important than ever in the next few years if there are economic conditions which prevent governments from giving as much as they otherwise would have,” he told the participants.
“I’m betting on you and people like you throughout the world to say this crisis is not an excuse to walk away from the world’s challenges, but a compelling reason to intensify our efforts to meet them around the corner and around the world,” he said.
Neville Isdell, chairman of the Coca-Cola Company, agreed. He told the gathering that while America is at risk for a second Great Depression without quick aid from the federal government, his business will not end its efforts to support clean-water programs and other charitable work
He said the economist Milton Friedman’s belief that companies should only focus on making money is an outdated model of business.
“It is last century,” he said.
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