Think About It. Good Money. Recently we referred to the lack of a “level playing field” in the discussion of the Financial Imbalance. We noted the obvious, that some people have more of the “filthy lucre” (dirty money) than others. More importantly, without the means of access to adequate food, clothing and shelter at a minimum, life if sustainable, is without joy.While the gap seems to have widened over the past three decades, philanthropic giving has almost tripled. Actually, groups of people have pooled funds for useful social purposes since before the switch from BC to AD. An endowment supported Plato’s Academy for some 900 years beginning as early as 387 years before the new calendar.
Over the years, a variety of religious organizations and merchants groups have organized to provided trusts for benevolent purposes. Beginning shortly before the 20th century, personal fortunes led to the formation of foundations funding first millions, then billions to further education, environmental causes, medical research, the arts and whatever most interested the wealthy funders. Coming easily to mind are John D. Rockefeller, John D. MacArthur, Andrew Carnegie, Walt Disney, Howard Hughes and J. Paul Getty along with brothers Henry and Edsel Ford.
You’ve recently witnessed the highly publicized eleemosynary activities of Bono, George Clooney, Oprah, Dolly Parton and more recent entry Lady Gaga. Among the super rich you’ll currently find perhaps the result of a Bridge partnership with Warren Buffet pledging over 30 billion dollars to the Bill and Melinda Gates Foundation. Untold billions carefully provided to causes from education to health and housing. You know of more I’m sure. Here’s a way to watch what’s happening.
Then there are those who want to know the recipients and the immediate results of the dollars, while witnessing the forward effect of planting the seeds of future well-being. They enjoy “teaching people to fish” so that recipients can spread the ability to sustain life and productive futures for themselves and those around them.
It seems to me that there is no bad money, but the moneyed activists above seem to have found wonderful ways to use their financial resources for good. So let’s just agree to call the money used for philanthropic purposes, Good Money. Think About It.