Philanthropy: “The Heart of Capitalism”
The history, impact, and breadth of philanthropy are as varied, rich (in every sense), and colorful as those of capitalism itself. The free flow of ideas, money, and hard work that are essential to capitalism are equally important to philanthropy, making both its very existence and success possible.
The history, impact, and breadth of philanthropy are as varied, rich (in every sense), and colorful as those of capitalism itself. The free flow of ideas, money, and hard work that are essential to capitalism are equally important to philanthropy, making both its very existence and success possible.
“This Is Capitalism” has often highlighted different aspects of philanthropy: those who give, its history, the benefits accrued, and why it is indeed “the heart of capitalism,” as our short film of that name so eloquently sums up.
We invite you to explore highlights of our coverage of philanthropy; a subject we look forward to continuing to explore on “This Is Capitalism.” Please see below for stories about Ivory Ella; Milton Hershey; corporate philanthropy; venture philanthropy; how big companies responded in the early days of the COVID-19 pandemic; and how small companies are increasingly incorporating social responsibility into their goals.
Capitalism stories:
Corporate Philanthropy Q&A: Can Companies Get Better at Doing Good?
American businesses that donate to nonprofits and charitable causes do so for a wide variety of reasons, from a desire to improve the world to a desire to improve the firm’s own public image and bottom line.
“Mr. Lucky” on Success and Giving Back
Mitchell Epstein writes in his book, Mr. Lucky: My Unexpected Journey to Success, that he’s never been “the smartest guy in the room.”
Giving in the Time of Covid-19: Millie.com
Rachel Klausner designed an app, Millie, to help millennials like herself be more thoughtful in their giving. She saw the need when she realized how much money she ended up giving as a result of friends making specific requests on social media.
Healthcare in Rural Areas: A Philanthropic Prescription
Corporate philanthropy has been a pivotal supporter of healthcare in the United States for more than a century.
How Capitalism Shaped Philanthropy in Germany
When Jakob Fugger died in Augsberg, Germany in 1457, he left behind the world’s first housing complex for needy townspeople. Now 499 years old, the Fuggerei is still going strong.
Taking Venture Philanthropy to the Next Level: Nonprofits Incubating Businesses
Venture philanthropy has evolved to encompass efforts at cultivating young businesses to improve communities and society as a whole.
Filling Economic Gaps In the World’s Rural Areas: Bridges to Prosperity
Since its founding in 2001, Bridges to Prosperity has built more than 300 walkable footbridges in 22 countries, connecting nearly 1 million rural people to broader economic resources.
Should You Start a Foundation?
Congratulations. You’ve done well. You decide it’s time to give—and give back—in a big way. Is a private foundation the right choice?
Toys for Tots: Seven Decades of Holiday Magic
Anyone familiar with Dr. Seuss’s How the Grinch Stole Christmas knows Christmas isn’t about presents. Yet we all know that deep down, most kids want something—just for them—to help bring holiday magic home.
Milton Hershey: Sweet Dreams of Helping Others
While the name "Hershey" is all but synonymous with chocolate, the sweet treat is not Milton Hershey's greatest legacy. That distinction arguably belongs to the Milton Hershey School.
Philanthropy Spotlight: The All Stars Project
The All Stars Project uses performance-based “Afterschool Development” initiatives to address poverty by helping inner-city youth and their families lead more successful lives.
Corporate Conscience Thrives at Businesses of All Sizes
Increasingly, corporate social responsibility is finding its way into smaller companies, with a greater emphasis on having a positive impact on the communities in which they work.
Embracing the Circular Economy: How Companies Can “Do Well by Doing Good”
The circular economy involves designing products with an eye toward their reuse, repair, remanufacturing, or recycling.
‘Tis the Season: Giving and Giving Back
Traditionally, almost a third of charitable giving in the United States happens during the holiday season. But for some businesses, giving back is a year-round tradition.
Philanthropy and Capitalism: You Can’t Have One Without the Other
Today’s entrepreneur philanthropists are catalysts for change. More and more, "philanthrocapitalists" marry their passions with their ability to invest in worthwhile causes.
Gentle Giants: Ivory Ella Capitalizes on the World’s Fascination With Elephants
John Allen, CEO of Ivory Ella, talks about how his company highlights the importance of innovation in business as well as corporate philanthropy.