According to the “World View” below, World View: The Way We Give Philanthropy Ca
ID: 1210503 • Letter: A
Question
According to the “World View” below,
World View: The Way We Give
Philanthropy Can Step In Where Market Forces Don’t
One day my wife Melinda and I were reading about millions of children dying from diseases in poor countries that were eliminated in this country. . . .
Malaria has been known for a long time. In 1902, in 1907, Nobel Prizes were given for advances in understanding the malaria parasite and how it was transmitted. But here we are a hundred years later and malaria is setting new records, infecting over 400 million people every year, and killing over a million people every year. That’s a number that’s increasing every year, and every day it’s over 2,000 African children. . . .
And this would extend to tuberculosis, yellow fever, AIDS vaccine, acute diarrheal illnesses, respiratory illnesses; you know, millions of children die from these things every year, and yet the advances we have in biology have not been applied because rich countries don’t have these diseases. The private sector really isn’t involved in developing vaccines and medicines for these diseases because the developing countries can’t buy them. . . .
And so if left to themselves, these market forces create a world, which is the situation today, where over 90 percent of the money spent on health research is spent on those who are the healthiest. An example of that is the billion a year spent on combating baldness. That’s great for some people, but perhaps it should get behind malaria in terms of its priority ranking . . .
So philanthropy can step in where market forces are not there. . . . It can get the people who have the expertise and draw them in. It can use awards, it can use novel arrangements with private companies, it can partner with the universities. . . . And every year the platform of science that we have to do this on gets better.
(a) How much money is spent annually to combat baldness?
Instructions: Enter your response as a whole number.
$ billion
(b) How much medical care would that money buy for each African child who dies from malaria each year?
Instructions: Enter your response rounded to the nearest whole number.
$
World View: The Way We Give
Philanthropy Can Step In Where Market Forces Don’t
One day my wife Melinda and I were reading about millions of children dying from diseases in poor countries that were eliminated in this country. . . .
Malaria has been known for a long time. In 1902, in 1907, Nobel Prizes were given for advances in understanding the malaria parasite and how it was transmitted. But here we are a hundred years later and malaria is setting new records, infecting over 400 million people every year, and killing over a million people every year. That’s a number that’s increasing every year, and every day it’s over 2,000 African children. . . .
And this would extend to tuberculosis, yellow fever, AIDS vaccine, acute diarrheal illnesses, respiratory illnesses; you know, millions of children die from these things every year, and yet the advances we have in biology have not been applied because rich countries don’t have these diseases. The private sector really isn’t involved in developing vaccines and medicines for these diseases because the developing countries can’t buy them. . . .
And so if left to themselves, these market forces create a world, which is the situation today, where over 90 percent of the money spent on health research is spent on those who are the healthiest. An example of that is the billion a year spent on combating baldness. That’s great for some people, but perhaps it should get behind malaria in terms of its priority ranking . . .
So philanthropy can step in where market forces are not there. . . . It can get the people who have the expertise and draw them in. It can use awards, it can use novel arrangements with private companies, it can partner with the universities. . . . And every year the platform of science that we have to do this on gets better.
Explanation / Answer
(a) It has been stated that billion dollars a year is spent on combating baldness.
Thus, the money spent annually on combating baldness is $1 billion.
(b) Money spent on combating baldness every year = $1 billion
Number of African children dying every day of Malaria = 2,000 children
Number of African children dying in 1 year = 2,000 * 365 = 730,000 children
Calculate medical care that money (spent on baldness) can buy for each African child who dies from Malaria each year -
Medical care bought = $1 billion/730,000 = $1,370
That money can buy medical care worth $1,370 for each African child who dies from Malaria each year.
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