Why Philanthropy matters: How the wealthy give, and what it means for our economic well-being

Why Philanthropy Matters: How the Wealthy Give, and What It Means for Our Economic Well-Being

Volumn , Issue , 2013, Pages

  Acs, Zoltan J ^a  

^a GEORGE MASON UNIVERSITY   (United States)

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EID: 84883754287     PISSN: None     EISSN: None     Source Type: Book    
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References (203)

1. http://online.wsj.com/article/SB10001424052748704017904575409193790337162.html.
2. http://givingpledge.org/#george_lucas.
3. http://givingpledge.org/#paul+g.+_allen.
4. http://givingpledge.org/#pierre+_omidyar.
5. USA Today, 12 August 2010.
6. http://blogs.wsj.com/wealth/2010/10/15/worlds-richest-man-charity-doesnt-solve-anything/.
7. The British, in their own version of the Giving Pledge, pledge to give 10 percent to charity. Not much has changed in old Europe. http://www.forbes.com/sites/seankilachand/2012/01/18/british-elite-support-their-own-giving-pledge/.
8. Robert J. Shiller, Finance and the Good Society (Princeton, NJ: Princeton University Press, 2012), chapter 18.
9. Richard Posner, A Failure of Capitalism: The Crisis of '08 and the Descent into Depression (Cambridge, MA: Harvard University Press, 2009).
10. William Baumol, Robert Litan, and Carl Schramm, Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (New Haven, CT: Yale University Press, 2007).
11. Francis Fukuyama, "The End of History?" The National Interest, Summer 1989, 3-18.
12. "Les Miserables," The Economist, 28 July 2012.
13. Zoltan J. Acs and Laszlo Szerb, The Global Entrepreneurship and Development Index (Cheltenham, UK: Edward Elgar, 2012).
14. Olivier Zunz, Philanthropy in America: A History (Princeton, NJ: Princeton University Press, 2012).
15. Bill Clinton, "Charity Needs Capitalism to Solve the World's Problems," Financial Times, 20 January 2012.
16. Zoltan J. Acs and Ronnie Phillips, "Entrepreneurship and Philanthropy in American Capitalism," Small Business Economics 19 (2002): 189-204.
17. Douglass C. North, Institutions, Institutional Change and Economic Performance (Cambridge: Cambridge University Press, 1990).
18. Rana Foroohar, "Warren Buffett Is on a Radical Track," Time, 23 January 2012, 34.
19. http://www.goodreads.com/author/quotes/98221.Robert_F_Kennedy.
20. E. J. Dionne Jr., "Romney's Type of Capitalism," Washington Post, 12 January 2012, A17.
21. Philip Auerswald and Zoltan J. Acs, "Defining Prosperity," The American Interest, May/June 2009, 4-13.
22. Jared Diamond, Guns, Germs, and Steel: The Fates of Human Societies (New York: W. W. Norton, 2005);
23. John Maynard Keynes, "Economic Possibilities for Our Grandchildren," in Essays in Persuasion (New York: W. W. Norton, 1963).
24. Joseph A. Schumpeter, Capitalism, Socialism and Democracy (New York: Harper and Bros., 1942).
25. David Brooks, "The Hamilton Agenda," International Herald Tribune, 9-10 June 2007, 9.
26. John R. Thelin, A History of American Higher Education (Baltimore: Johns Hopkins University Press, 2004).
27. Frederick Rudolph, The American College and University: A History (Athens: University of Georgia Press, 1990).
28. Thelin, A History of American Higher Education.
29. Christopher Lucas, American Higher Education: A History (New York: St. Martin's Press, 1994), 147.
30. Merle E. Curti and Vernon Carstensen, The University of Wisconsin: A History, 1848-1925, volume 1 (Madison: University of Wisconsin Press, 1949).
31. http://givingpledge.org/#tashia+and+john+_morgridge.
32. Kenneth Sokoloff and Stanley Engerman, "History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World," Journal of Economic Perspectives 14, no. 3 (2000): 217-232.
33. David Hackett Fischer, Albion's Seed: Four British Folkways in America (New York: Oxford University Press, 1989).
34. Bill Gates speech, National Education Summit on High Schools, Washington, DC, 26 February 2005.
35. John E. Chubb and Terry M. Moe, Politics, Markets, and America's Schools (Washington, DC: Brookings Institution Press, 1990).
36. Olivier Zunz, Philanthropy in America: A History (Princeton, NJ: Princeton University Press, 2012), 178.
37. Robert T. Grimm Jr., ed., Notable American Philanthropists (Westport, CT: Greenwood, 2002), 116.
38. Vidal v. Girard's Executors, 43 U.S. 127 (1844).
39. Frederick M. Hess, The Future of Educational Entrepreneurship: Possibilities for School Reform (Cambridge, MA: Harvard University Press, 2008), 96.
40. http://books.google.com/books?id=RExYAAAAYAAJ&pg=PA11102&lpg=PA11102&dq=To+help+an+inefficient,+ill-located,+unnecessary+school+is+a+waste.+%E2%80%A6&source=bl&ots=Kr_nwTD_l6&sig=JXspVHw5luB6P_aJvdG3bbSxAk&hl=en&sa=X&ei=DkgYULTCGsre0QGh5YE4&ved=0CD4Q6AEwAQ#v=onepage&q=To%20help%20an%20inefficient%2C%20ill-located%2C%20unnecessary%20school%20is%20a%20waste.%20%E2%80%A6&f=false.
41. Tyler Cowen, The Great Stagnation (New York: Dutton, 2012).
42. http://www.insidehighered.com/news/2012/05/08/walmart-and-american-public-u-chart-new-ground-partnership#.T6lT1nUV9_E.email.
43. Lawrence Summers, "How the Land of Opportunity Can Combat Inequality," Financial Times, 16 July 2012, 15.
44. According to the eighteenth-century mathematician and philosopher Jean Le Rond d'Alembert, "The universe would only be one fact and one great truth for whomever knew how to embrace it from a single point of view." In The Information: A History, a Theory, a Flood (New York: Pantheon, 2011), James Gleick argues that information is more than just the content of our libraries. It is "the blood and fuel, the vital principle" of the world. If information is the key to understanding everything, then information technology is the key to making that understanding a reality. As cited in "Are We No More Than All These Bits?" International Herald Tribune, 19-20 March 2011, 20.
45. Ray Allen Billington and Martin Ridge, Westward Expansion: A History of the American Frontier (New York: Macmillan, 1982).
46. Quoted in Ralph E. Gomory, "Learning Outside the Classroom: The Time Is Now," in Conference Proceedings, Second International ALN Conference (1996)
47. http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&sqi=2&ved=0CDEQFjAA&url=http%3A%2F%2Fsloanconsortium.org%2Fconference%2Fproceedings%2F1996%2Fdoc%2F96_gomory.doc&ei=10EYUIzBHuPd0QGY8ICYBw&usg=AFQjCNFoLemQi9Eyk9gAbUOrJ6194Oj8Lw.
48. http://en.wikipedia.org/wiki/Andrew_Carnegie.
49. http://en.wikipedia.org/wiki/Thomas_Edison.
50. Mark Dodgson and David Gann, Innovation: A Very Short Introduction (Oxford: Oxford University Press, 2010).
51. http://en.wikipedia.org/wiki/Bell_Labs.
52. http://en.wikipedia.org/wiki/Sputnik_1.
53. Robert F. Hébert and Albert N. Link, The Entrepreneur: Mainstream Views and Radical Critiques (New York: Praeger, 1988), 43.
54. Joseph A. Schumpeter, Capitalism, Socialism and Democracy (New York: Harper and Bros., 1942), 134.
55. Quoted in Robert B. Reich, Supercapitalism: The Transformation of Business, Democracy, and Everyday Life (New York: Alfred A Knopf, 2007), 27.
56. John Maynard Keynes, Essays in Persuasion (New York: W. W. Norton, 1963), 313.
57. Reich, Supercapitalism, 29.
58. Karl Marx, Capital, trans. Ernest Untermann (Chicago: Kerr, 1925-1926),1:836.
59. Tim Wu, The Master Switch: The Rise and Fall of Information Empires (New York: Alfred A. Knopf, 2010).
60. Robert D. Putnam, Bowling Alone: The Collapse and Revival of American Community (New York: Simon and Schuster, 2000), 88.
61. Norman Macrae, "The Coming Entrepreneurial Revolution: A Survey," Economist, 25 December 1976, 42.
62. George Harris, "The Post-capitalist Executive: An Interview with Peter F. Drucker," Harvard Business Review, May-June 1993, 115-116.
63. Clyde H. Farnsworth, "U.S. Industry Seeking to Restore Competitive Vitality to Products," New York Times, 18 August 1980, A1.
64. Agis Salpukas, "Depressed Industrial Heartland Stressing Urgent Need for Help," New York Times, 19 August 1980, 1.
65. Peter J. Schoyten, "Amid Stagnation, High Technology Lights a Path," New York Times, 20 August 1980, A1.
66. Henry Scott Stokes, "Can Japan's Aid to Its Industry Guide U.S.?" New York Times, 21 August 1980, D1.
67. Edward Cowan, "Carter Economic Renewal Plan," New York Times, 22 August 1980, D1.
68. David B. Audretsch, The Entrepreneurial Society (Oxford: Oxford University Press, 2007), 89.
69. http://en.wikipedia.org/wiki/Michael_Dell.
70. But what sparked this revolution? Surely the turbulence of the 1960s, a cultural revolution, played an important role in transforming America from a world of the "organization man," in which "father knows best," to a world in which experimentation and innovation again dominated American life.
71. Zoltan J. Acs and David B. Audretsch, Innovation and Small Firms (Cambridge, MA: MIT Press, 1990).
72. The rise in IPOs was probably due mainly to institutional reforms that lowered taxes on capital gains and allowed institutional investors such as pension funds to invest in venture capital firms. This made it possible for mature privately held firms to go public.
73. http://www.cato.org/publications/commentary/remembering-ronald-reagan.
74. As important as Bayh-Dole was, it was essentially an attempt to "reverse engineer" the technology transfer process that had worked so effectively in prior years at a few very special institutions such as MIT and Caltech. The Research Corporation for Science Advancement, established in 1912, played an important role in commercializing research results at several leading academic institutions. In response to the incentives offered by Bayh-Dole, a wide range of universities adapted to the new set of rules and began promoting technology transfer, but the vast majority of them never developed the kind of permissive, entrepreneurial culture that marked the early models.
75. Zoltan J. Acs, Bo Carlsson, and Charlie Karlsson, eds., Entrepreneurship, Small and Medium-Sized Enterprises and the Macroeconomy (Cambridge: Cambridge University Press, 1999), chapter 8.
76. Wall Street Journal, 2 March 1993.
77. Macrae, "The Coming Entrepreneurial Revolution."
78. The rankings of leading firms in the United States are constantly changing.
79. "The Knowledge Factory: A Survey of Universities," The Economist, 4 October 1997.
80. Steve Allen, "Microsoft's Odd Couple," Vanity Fair, May 2011.
81. Zoltan J. Acs, Innovation and the Growth of Cities (Cheltenham, UK: Edward Elgar, 2002), chapter 1.
82. Sarah Rimer, "A Hometown Feels Less Like Home," New York Times, 6 March 1996, 1.
83. "Times Higher Education World University Rankings, 2011-12," http://www.timeshighereducation.co.uk/world-university-rankings/.
84. BusinessWeek, 25 August 1997, 66.
85. http://www.stanford.edu/dept/visitorinfo/basics/about.html.
86. http://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowment.
87. Joyce Appleby, The Relentless Revolution (New York: W. W. Norton, 2010), 23.
88. John Maynard Keynes, Essays in Persuasion (New York: W. W. Norton, 1963), 369.
89. Timothy Noah, "The United States of Inequality," Slate, 16 September 2010, http://www.slate.com/id/2266025/entry/2266816/.
90. http://givingpledge.org/#herb+and+marion+_sandler.
91. The Center on Philanthropy at Indiana University, Bank of America Study of High Net-Worth Philanthropy-Initial Report, October 2006.
92. Thomas J. Tierney, "Higher-Impact Philanthropy: Applying Business Principles to Philanthropic Strategies," Philanthropy, 14 February 2007. http://www.philanthropyroundtable.org/article.asp?article=1453&cat=147.
93. Franklin Parker, George Peabody: A Biography (Nashville: Vanderbilt University Press, 1971), 208.
94. http://givingpledge.org/#eli+and+edythe+_broad.
95. http://givingpledge.org/#jeff_skoll.
96. http://givingpledge.org/#pierre+_omidyar.
97. Olivier Zunz, Philanthropy in America: A History (Princeton, NJ: Princeton University Press, 2012).
98. http://givingpledge.org/#carl_icahn.
99. Louis Menand, The Metaphysical Club: A Story of Ideas in America (New York: Farrar, Straus and Giroux, 2001), chapter 12.
100. Ellen Condliffe Lagemann, The Politics of Knowledge: The Carnegie Corporation, Philanthropy and Public Policy (Chicago: University of Chicago Press, 1992).
101. Andrew Carnegie, "Wealth," in The Gospel of Wealth and Other Timely Essays (New York: Century, 1901), 75.
102. See http://www.merriam-webster.com/dictionary/charity.
103. Robert T. Grimm Jr., ed., Notable American Philanthropists (Westport, CT: Greenwood, 2002), 100.
104. Related perspectives typically reflect Carnegie's position, as expressed in the so-called Gospel of Wealth, that philanthropy could create opportunities for those who are willing to work for them (Carnegie, "Wealth"; Appleby, Relentless Revolution, 203-204). At the same time, this philosophy was built on notions of the "deserving" and the "undeserving" poor, with Carnegie depicting the wealthy as trustees of the public good and arguing that charity enabled laziness and rewarded bad behavior.
105. http://givingpledge.org/#eli+and+edythe+_broad.
106. Jeffrey Sachs, "Sachs on Globalization," The Economist, 24 June 2000, 81-83.
107. Carl J. Schramm, "Law Outside the Market: The Social Utility of the Private Foundation," Harvard Journal of Law and Public Policy 30, no. 1 (Fall 2006): 356-407.
108. Parker, George Peabody, 209.
109. http://www.peabodyhistorical.org/gpeabody.htm.
110. Peter Frumkin, Strategic Giving: The Art and Science of Philanthropy (Chicago: University of Chicago Press, 2006).
111. "The History of Philanthropy in the United States," http://www.cof.org/Learn/content.cfm?ItemNumber=730.
112. Carnegie, "Wealth," 8-11, 19, 42, 54-55.
113. Zunz, Philanthropy in America, 183.
114. Foundation Center, 2011, http://foundationcenter.org.
115. Laurence R. Veysey, The Emergence of the American University (Chicago: University of Chicago Press, 1965); Frederick Rudolph, The American College and University: A History (Athens: University of Georgia Press, 1990).
116. Jonathan R. Cole, The Great American University: Its Rise to Preeminence, Its Indispensable National Role, Why It Must Be Protected (New York: PublicAffairs, 2009), 35.
117. Menand, The Metaphysical Club, chapter 11.
118. http://www.ellisonfoundation.org/content/history.
119. http://www.msdf.org/impact/urban-education/.
120. http://en.wikipedia.org/wiki/Oprah_Winfrey.
121. http://www.kauffman.org/about-foundation/vision-mission-andapproach.aspx.
122. http://www.kauffman.org/about-foundation/our-founder-ewingkauffman.aspx.
123. Max Weber, The Protestant Ethic and the Spirit of Capitalism, trans. Talcott Parsons (New York: Scribner, 1958), 60.
124. http://www.forbes.com/sites/luisakroll/2011/05/19/the-worlds-biggest-givers/.
125. "A Family's Billions, Artfully Sheltered," New York Times, 26 November 2011.
126. New York Times, 2 December 1998, A10; Newsweek, 30 August 1999, 50.
127. http://givingpledge.org/.
128. Andrew Carnegie, "Wealth," in The Gospel of Wealth and Other Timely Essays (New York: Century, 1901), 15.
129. http://givingpledge.org/#laura+and+john+_arnold.
130. http://givingpledge.org/#pierre+_omidyar.
131. http://givingpledge.org/#eli+and+edythe+_broad.
132. http://en.wikipedia.org/wiki/Herbert_Sandler.
133. http://givingpledge.org/#herb+and+marion+_sandler.
134. http://givingpledge.org/#gerry+and+marguerite+_lenfest.
135. http://givingpledge.org/#harold_hamm.
136. http://givingpledge.org/#george+b.+_kaiser.
137. Andrew Ross Sorkin, "The Mystery of Steve Jobs's Public Giving," New York Times Dealbook, 29 August 2011, http://dealbook.nytimes.com/2011/08/29/the-mystery-of-steve-jobss-public-giving/.
138. http://quotationsbook.com/quote/32811/.
139. David Hackett Fischer, Albion's Seed: Four British Folkways in America (New York: Oxford University Press, 1989), 7.
140. Abram English Brown, Faneuil Hall and Faneuil Market, or Peter Faneuil and His Gift (Boston: Lee and Shepard, 1900), 20-25.
141. Fischer, Albion's Seed, 209.
142. The other "folkway" was a flow of English-speaking people from the borders of North Britain and Northern Ireland to the Appalachian backcountry, primarily during the half century from 1718 to 1775.
143. Barrington Moore, Social Origins of Dictatorship and Democracy: Lord and Peasant in the Making of the Modern World (Boston: Beacon, 1993), chapter 3.
144. Alexis de Tocqueville, Democracy in America (New York: Penguin, 2003), as cited in http://www.toqonline.com/archives/v2n4/TOQv2n4Martell.pdf.
145. Olivier Zunz, Philanthropy in America: A History (Princeton, NJ: Princeton University Press, 2012), chapter 2.
146. Everett Carll Ladd, The Ladd Report (New York: Free Press, 1999), cited in Robert D. Putnam, Bowling Alone: The Collapse and Revival of American Community (New York: Simon and Schuster, 2000), 117.
147. http://economix.blogs.nytimes.com/2011/10/18/which-americans-are-most-generous-and-to-whom/.
148. Frederick Rudolph, The American College and University: A History (Athens: University of Georgia Press, 1990).
149. Frank G. Dickinson, The Changing Position of Philanthropy in the American Economy (New York: National Bureau of Economic Research, 1970), 42.
150. "The Land of the Handout," Newsweek, 29 September 1997, 34-36.
151. Adam Smith, The Theory of Moral Sentiments (1759; Indianapolis: Liberty Classics, 1969), 47.
152. Adam Smith, The Wealth of Nations (1776; New York: Modern Library, 1937), 14.
153. Kenneth Boulding, "Notes on a Theory of Philanthropy," in Philanthropy and Public Policy, ed. Frank G. Dickinson (Boston: National Bureau of Economic Research, 1962), 57-58.
154. Herbert A. Simon, "Altruism and Economics," American Economic Review 83, no. 2 (1993): 158.
155. Jane Allyn Piliavin and Hong-Wen Charng, "Altruism: A Review of Recent Theory and Research," Annual Review of Sociology 16 (1990): 27-65.
156. Boulding, "Notes on a Theory of Philanthropy," 61.
157. John Maynard Keynes, "Economic Possibilities for Our Grandchildren," in Essays in Persuasion (New York: W. W. Norton, 1963), 369.
158. John Kenneth Galbraith, American Capitalism: The Concept of Countervailing Power (1952; Transaction Press, 2008).
159. Richard Posner, A Failure of Capitalism: The Crisis of '08 and the Descent into Depression (Cambridge, MA: Harvard University Press, 2009).
160. William Baumol, Robert Litan, and Carl Schramm, Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (New Haven, CT: Yale University Press, 2007).
161. "Wall St. Profits Were a Mirage but Huge Bonuses Were Real," New York Times, 18 December 2008, 1.
162. "U.S. Sails on Tranquil Economic Seas," Washington Post, 2 December 1996, 1.
163. Charles Duhigg and Keith Bradsher, "How the U.S. Lost Out on iPhone Work," New York Times, 21 January 2012, http://www.nytimes.com/2012/01/22/business/apple-america-and-a-squeezed-middle-class.html?pagewanted=all.
164. http://www.federalreserve.gov/boarddocs/Speeches/2002/default.htm.
165. http://trends.collegeboard.org/downloads/College_Pricing_2011.pdf.
166. Jennifer L. Hochschild, What's Fair? American Beliefs about Distributive Justice (Cambridge, MA: Harvard University Press, 1981), 278 (emphasis added). See surveys of American attitudes toward equal opportunity.
167. "Young Students Become the New Cause for Big Donors," New York Times, 21 August 2005.
168. For a deeper exploration of this argument, see Philip Auerswald and Zoltan J. Acs, "Defining Prosperity," The American Interest, May/ June 2009, 4-13.
169. Robert J. Shiller, Finance and the Good Society (Princeton, NJ: Princeton University Press, 2012), chapter 18.
170. Joseph E. Stiglitz, The Price of Inequality (New York: W. W. Norton, 2012), 265.
171. Olivier Zunz, Philanthropy in America: A History (Princeton, NJ: Princeton University Press, 2012), chapter 6.
172. Robert J. Shiller, Finance and the Good Society (Princeton, NJ: Princeton University Press, 2012), 208.
173. The Center on Philanthropy at Indiana University, "Bank of America Study of High Net-Worth Philanthropy-Initial Report," October 2006, http://www.philanthropy.iupui.edu/research/BAC+Study+of+HNW+Philanthropy_102606.pdf.
174. Dennis McIlnay, "Four Moments in Time," Foundation 39, no. 5 (1998), http://www.foundationnews.org/CME/article.cfm?ID=1053.
175. http://pinterest.com/acsphilanthropy/pins/.
176. Philip E. Auerswald, The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy (Oxford: Oxford University Press, 2012).
177. For a statement on the nature and logic of capitalism, see Robert Heilbroner, The Nature and Logic of Capitalism (New York: Harper and Row, 1985). Of course, it is precisely the institutional framework that differs from country to country and not necessarily the logic of the system. For a discussion of the different institutional frameworks, see Michael Porter, Can Japan Compete? (London: Macmillan, 2000); on Japan, see Wolfgang Streech and Kozo Yamamura, The Origins of Non-Liberal Capitalism: Germany and Japan in Comparison (Ithaca, NY: Cornell University Press, 2002); on France, see Jonah D. Levy, Tocqueville's Revenge: State, Society, and Economics in Contemporary France (Boston: Harvard University Press, 1999); and on Sweden, see Zoltan J. Acs and Charlie Karlsson, Institutions, Entrepreneurship and Firm Growth: The Case of Sweden, special issue of Small Business Economics (2002).
178. http://www.google.com/search?q=the+world+in+2050&hl=en&qscrl=1&nord=1&rlz=1T4PRFA_enUS429US431&prmd=imvnsb&tbm=isch&tbo=u&source=univ&sa=X&ei=XAWsT_aDFoiG6QH8xMy3BA&sqi=2&ved=0CGoQsAQ&biw=1536&bih=745.
179. http://www.brainyquote.com/quotes/authors/a/alexis_de_tocqueville_3.html.
180. Gordon S. Wood, The Idea of America: Reflections on the Birth of the United States (New York: Penguin, 2011).
181. Seymour Martin Lipset, American Exceptionalism: A Double-Edged Sword (New York: W. W. Norton, 1996), 22.
182. http://www.Ft.Com/FT500, June 2011.
183. Yves Beigbeder, "A French Bill Gates-like Philanthropist?" trans. Zachary Hebert, Le Monde, 14 July 2010. http://watchingamerica.com/News/61556/a-french-bill-gates-like-philanthropist/.
184. Francis Fukuyama, "The End of History?" The National Interest, Summer 1989, 3-18.
185. Richard Florida, The Rise of the Creative Class (New York: Basic Books, 2002).
186. http://www.economist.com/node/21552589.
187. Joseph E. Stiglitz, The Price of Inequality (New York: W. W. Norton, 2012), 289.
188. Lawrence Summers, "How the Land of Opportunity Can Combat Inequality," Financial Times, 16 July 2012, 15.
189. Paul Gilding, The Great Disruption: Why the Climate Crisis Will Bring on the End of Shopping and the Birth of a New World (New York: Bloomsbury, 2011).
190. Peter Drucker, Entrepreneurship and Innovation (New York: Harpers, 1985), 7.
191. David Audretsch, The Entrepreneurial Society (Oxford: Oxford University Press, 2007), 192.
192. Carl J. Schramm, The Entrepreneurial Imperative: How America's Economic Miracle Will Reshape the World (and Change Your Life) (New York: CollinsBusiness, 2006), 177 (emphasis added).
193. http://www.forbes.com/sites/luisakroll/2011/05/19/the-worlds-biggest-givers/.
194. http://philanthropy.com/blogs/philanthropytoday/giving-pledge-draws-first-chinese-commitment/26764.
195. http://www.usatoday.com/tech/news/2009-03-02-un-digital_N.htm.
196. http://www.philanthrocapitalism.net/bonus-chapters/second-golden-age/.
197. Robert Frank, Richistan: A Journey through the American Wealth Boom and the Lives of the New Rich (New York: Three Rivers Press, 2007).
198. Robert H. Frank, "Darwin, the Market Whiz," New York Times, 18 September 2011, 8.
199. Milton Friedman, "The Spending Tax as a Wartime Fiscal Measure," American Economic Review 33, no.1 (1943): 50-62.
200. Rana Foroohar, "Warren Buffett Is on a Radical Track," Time, 23 January 2012, 38.
201. http://www.brainyquote.com/quotes/authors/a/alexis_de_tocqueville_3.html.
202. Quoted in Greg Mankiw, "The Passions of the Estate Tax," Greg Mankiw's Blog: Random Observations for Students of Economics (blog), 8 June 2006, http://gregmankiw.blogspot.com/2006/06/passions-of-estate-tax.html.
203. Andrew Carnegie, "Wealth," in The Gospel of Wealth and Other Timely Essays (New York: Century, 1901).