Pembroke-Kings Programme

Supervision Request
Name:
Title of your Topic: TOMS: An Economic Case Study of Philanthropic Capitalism
Subject Area: Development Economics
Briefly describe your proposed topic (250 words).
For decades, economists have debated the most effective methods of fighting large-scale poverty,
especially in the third world. From infusing money through the government to providing direct
physical support, there is never a clear consensus concerning the most successful aid strategies. In
recent years, Philnthrocapitalism, a rising business model and social phenomenon, has joined the fray
of third world assistance. Among the groups who have grasped onto this trend, some corporations have
adopted the one for one model, in which they donate one of their products for every one that
consumers purchase. TOMS shoes, a pioneer of this technique, donates their shoes to needy children in
countries around the world and has grown not only as a profitable company but also as a widespread
social statement. TOMS claims that its donations improve health and create a more successful
tomorrow for the shoe recipients in third world countries. During my supervision, I will investigate the
mechanics behind this philanthropic business model and the effects it will actually have on the
countries it donates to. In order to unearth the nuances of philanthrocapitalism through this TOMS case
study, I will ask questions such as: Why has the TOMS corporation grown so quickly, is
philanthrocapitalism a sustainable business model, what does the infusion of TOMS shoes do to third
world economies, and does philanthrocapitalism provide effective aid? I will utilize the expertise of the
Cambridge economics department to reconcile the booming capitalist endeavours of TOMS shoes with
its economic implications in developing countries.

Why do you want to pursue this independent study option and what benefit will you gain from it?

Pembroke-Kings Programme at Cambridge provides me with the unparalleled opportunity to combine

course work and one-on-one mentorship in the area of development economics. This option will
contribute to both my undergraduate education and my future academic endeavours. As an economics
major, I appreciate the benefit that I can attain within my discipline by studying Development
Economics on a more broad level in the PKP course while pursuing my particular interest more
specifically with my philanthrocapitalism project during the supervision. I will build upon and enrich
my previous economic course work by delving into development economics and the effects of the
TOMS corporations aid in the third world. The supervision will allow me to spend the time and
resources necessary to work with and become an expert in my area of interest. My specific proposal is
based upon the preliminary stages of my Undergraduate Honours Thesis project, and I know this
supervision will help me to make remarkable progress on my thesis through the personal discovery
process of individual research, while receiving invaluable guidance from my economics supervisor at
Cambridge. The skills and accomplishments that I will gain from a supervision are also extremely
beneficial for my goal of attending a rigorous law school. The supervision option will teach me
important writing and researching skills, both of which are necessary in law school and the law
profession. In addition, I will learn to handle demanding deadlines and intense intellectual stimulation.
I fully embrace the invaluable growth and tremendous personal advancement offered by a supervision.

Briefly describe any relevant work you have already done in the area.

Although my project is still in the preliminary stages, I have had the opportunity to take several
important foundational courses that have prepared me to embark on this project. My econ courses thus
far have provided me with much of the fundamental knowledge needed to explore more specific
research in development economics, and I have a strong base to build upon. I have also read a number
of recent articles on philanthrocapitaism and TOMS in order to really understand the entity that I will
be studying and applying my other research to. Additionally, I have met with a few professors to
discuss my project and have one faculty mentor in particular who I will work closely with through the
Honours Thesis process. Through the guidance my faculty mentor I have read papers on economics
philosophy including ethics and entrepreneurship and money mediated exchange and begun to
formulate a basic understanding of the economics motivations that lie behind my project.

Please list below any books or other sources which may be relevant for the topic.
Bauer, P.T. Equality, the Third World, and Economic Delusion. Library of Congress Cataloguing,
1981. Print.
Bishop, Matthew and Michael Green. Philanthrcapitalism: How Giving Can Save the World. New
York: Bloomsbury Press, 2008. Print.
Crawford, Robert G. Fair Enough: Ethics and Entrepreneurship. Diss. Brigham Young University,
2006. Print.
Crawford, Robert G. and Travis T. Anderson. A Note on the Function of Money. Diss. Brigham
Young University, 2009. Print.
Goldthorpe, J.E. The Sociology of the Third World: Disparity and Involvement. Cambridge University
Press, 1975. Print.
Moore, Booth. Toms Shoes Model is Sell a Pair, Give a Pair Away. Los Angeles Times. LA Times,
19 Apr 2009. Web.
Perman, Stacy. Making a Do-Gooders Business Model Work. Entrepreneurs Journal. Bloomberg
Businessweek, 23 Jan 2009. Web.
Poole, Sean. TOMS Shoes Not the Right Fit. The Point Weekly. Loma Nazarene University, 28 Sept.
2009. Web.
Zimmerman, Mike. The Business of Giving. SUCCESS. SUCCESS Magazine, n.d. Web.