Philanthropy is Big Business

In a recent Exchange article, "Investing in Early Childhood Education," I quoted these remarks of Peter Buffett (son of the billionaire, not the singer):

“As more lives and communities are destroyed by the system that creates vast amounts of wealth for the few, the more heroic it sounds to ‘give back.’  It’s what I would call ‘conscience laundering’ — feeling better about accumulating more than any one person could possibly need to live on by sprinkling a little around as an act of charity.

“But this just keeps the existing structure of inequality in place.  The rich sleep better at night, while others get just enough to keep the pot from boiling over.  Nearly every time someone feels better by doing good, on the other side of the world (or street), someone else is further locked into a system that will not allow the true flourishing of his or her nature or the opportunity to live a joyful and fulfilled life.”

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