Milton Hershey: The Lord of Chocolate | Author James O’Toole on the Relationship Between Philanthropy and Capitalism | 5

Business Movers

Wondery

History, Business, Entrepreneurship

4.8 • 1.5K Ratings

🗓️ 16 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Professor Emeritus James O’Toole, author of The Enlightened Capitalists, discusses the relationship between capitalism and altruism, and how Milton Hershey is just one example of a business leader who struggled to marry money-making with do-gooding.Professor Emeritus James O’Toole, author of The Enlightened Capitalists, discusses the relationship between capitalism and altruism, and how Milton Hershey is just one example of a business leader who struggled to marry money-making with do-gooding.

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Transcript

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0:00.0	Hey Prime members, you can listen to BusinessMovers ad free on Amazon Music.
0:05.0	Download the app today. It's July 26, 2002, nearly 57 years after the death of Chocolate Maker Milton Hershey,
0:30.0	outside the High Point Mansion in Hershey, Pennsylvania.
0:33.6	John, a 60-year-old with thinning gray hair and a bat hip,
0:37.0	stamps his feet and roars along with a chanting crowd around him.
0:41.0	He's one of almost 500 protesters surrounding the mansion.
0:45.0	The building serves as the offices of the Hershey Trust, the organization which runs the Milton Hershey School and is the majority shareholder in the Hershey Company.
0:54.5	The trust has plans to sell off the Hershey Company and diversify its assets, but the locals aren't
0:59.4	happy at the prospect and have marched on the mansion to protest. Amid the noise of chaos, John feels a tap on his shoulder.
1:07.0	It's a journalist holding a tape recorder.
1:10.0	Excuse me, sir, would you mind answering a few questions?
1:12.0	What? I said, can, would you mind answering a few questions? What?
1:13.3	I said, can I ask you some questions, sir, questions about the protest?
1:17.6	Can you tell me why you're here today?
1:19.4	John Jabs a finger at the mansion.
1:21.9	Oh, well, yeah, it's because they want to sell the company.
1:25.0	The board of the school trust.
1:26.7	That's a disgrace.
1:28.0	You know, I'm an alumnus of that school,
1:29.9	and I owe it so much.
1:31.6	But the people in those offices don't understand that. They don't
1:34.5	understand the history of this place. They want to turn it over to outsiders.
	...

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