He is also a Visiting Research Fellow at the Frederick S. Pardee Center for the Study of the Longer-Range Future at Boston University. He began his remarks by highlighting the massive increase in private wealth that has been accumulated in recent years and which is propelling the recent rise in private philanthropy. However, he suggested that private sector philanthropy can also be detrimental to international development if it is divorced from a sense of local needs. This is particularly so because new philanthropists often bring with them an impatience and a need for quick results instead of true development which often takes time. Instead, he argued that true social change will come about with local participatory development.